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Lumen Technologies’ bonds were among the top gainers, having rallied by over 5% across the curve. The comes after the company was said to have developed its new ‘ExaSwitch’ network interconnection ecosystem in collaboration with Microsoft and Google. In a media release, Lumen said that the platform would empower “organizations with high bandwidth needs to route their traffic dynamically and quickly between networks, and without third-party intervention”. Lumen’s dollar bonds have largely been under pressure since the beginning of the year when it warned of soft earnings. Besides, it was downgraded to B2 from Ba3 by Moody’s highlighting governance weakness as one of the reasons alongside weak earnings.
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