S&P ups Ericsson debt to BB+

Standard & Poor's said it raised its long-term corporate credit and senior unsecured debt ratings on Ericsson (Telefonaktiebolaget LM) to BB+ from BB following publication of its third-quarter 2004 results showing improved performance. The outlook is positive.

At the same time, S&P affirmed its B short-term corporate credit rating on the company.

The upgrade reflects S&P's view that the wireless telecoms equipment market is set to continue growing in 2005, that Ericsson is strongly positioned in the main vectors of growth and the group's cost structure is commensurate with its business needs.

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