Moody's says Pacnet unchanged

Moody's Investors Service said that Pacnet's performance for the 2011 fiscal year was in line with its expectations and has no immediate affect on its B1 corporate family and senior unsecured bond ratings.

The outlook remains negative.

Moody's said that for 2011, Pacnet recorded $528.6 million in revenues, up 4.4% from a year ago, driven primarily by increases in the data service and wholesale voice segments.

Adjusted EBITDA, excluding non-cash employee stock option plan costs, was $82 million for 2011, an increase 2.2% from the prior year.

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