by Arundhati Behera | Mar 17, 2023 | Corporates
American tech company Lumen Technologies announced that its indirect, wholly-owned subsidiary Level 3 Financing will issue new senior secured notes in exchange for senior unsecured notes of Lumen. Level 3 will issue up to $1.1bn of new 10.5% bonds due 2030 in exchange...
by Amruth Sundarkumar | Feb 27, 2023 | Corporates, Credit Ratings
Lumen Technologies was downgraded to B2 from Ba3 by Moody’s. The rating agency highlighted governance weakness as one of the reasons as the company departed from its prior financial strategy and risk management practices. Here, Lumen’s significant...
by Amruth Sundarkumar | Feb 9, 2023 | Corporates
Lumen Technologies’ dollar bonds dropped by over 10% across the curve after the company’s forecast for adjusted EBITDA in 2023 significantly missed estimates. Lumen said that it expects to see adjusted EBITDA at $4.6-4.8bn, as compared to analyst estimates...
