SAN FRANCISCO (Thomson Financial) - Standard & Poor's Ratings Services on
Monday raised its corporate credit rating on Ciena Corp. to "B+" from "B," and
revised its ratings outlook to stable from
positive.
"The action reflects the company's continued revenue growth and improving
profitability, as well as its lower, but still substantial, leverage following
the redemption of a debt issue in February 2008," said S&P credit analyst Bruce
Hyman in a statement.
Shares of Linthicum, Md.-based Ciena, which supplies equipment used in
fiber-optic based communications networks, rose 5.9% to $31.79.
Gabriel Madway
gm
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