S&P give Lucent and Alcatel first upgrades since market collapse

11 Mar 2004

Credit ratings agency Standard & Poors has provided the telecoms equipment industry with more good news by making its first upgrades in the sector since the collapse of the market in 2000. S&P raised its ratings on Lucent Technologies and Alcatel one notch each to B and BB- respectively. Whilst both remain in junk bond territory, S&P analyst Bruce Hyman told the Financial Times that ‘the freefall is largely over’.