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S&P ups Eschelon Telecom
Standard & Poor's said it raised the long-term corporate credit rating on Eschelon Telecom Inc. to B- from CCC+.
The outlook is stable.
S&P said the upgrade reflects the company's improved financial profile, including lower levels of debt and the generation of positive net free cash flow, the successful integration of ATI, which was acquired on Dec. 31, 2004 and a demonstrated ability to capture market share from Qwest Communications International.
The ratings continue to reflect a high degree of credit risk stemming from the company's vulnerable business position resulting from, among other factors, the highly competitive nature of the CLEC business, the agency added.
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