Moody's ups Ericsson bonds, loans to Ba1

Moody's Investors Service said it upgraded to Ba1 from Ba2 the ratings for Telefonaktiebolaget LM Ericsson's bonds and bank loans and the company's issuer and senior implied ratings.

Additionally, Moody's placed these ratings, as well as the not-prime rating of Ericsson for short term debt, on review for a possible further upgrade.

The upgrade is based on Moody's view that the global mobile infrastructure market is evidencing a steady degree of growth, Ericsson's success in retaining its leading position as the largest supplier of mobile communications equipment, the company's recent strong improvements in key metrics and management's practice of retaining generated cash flows and maintaining a highly liquid balance sheet in order to absorb possible cash flow volatility.

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