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Moody's may boost Motorola
Moody's Investors Service said it placed the ratings of Motorola, Inc. under review for possible upgrade.
The review was driven by the communications equipment company's upcoming spin-off of its volatile and potentially cash-consuming handset business, expectations of a near term sale of the company's networks business as well as the strong cash balances likely to remain with the company post separation, the agency noted.
Upon spin of the handset business, Motorola will change its name to Motorola Solutions, Inc., the agency stated. Motorola's current senior unsecured rating is Baa3.
The consideration for possible upgrade is driven by the post-separation company's broad geographic and product diversification, leading position across numerous communications equipment businesses as well potential for steady cash generating capabilities, Moody's added.
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