Standard & Poor's raises rating to B-
Standard & Poor's on Monday raised the corporate credit rating on Level 3 Communications to a B- from a selective default based on the completion of a debt buyback program designed to give the Broomfield-based communications carrier some breathing room.
Standard & Poor's also said that it lowered its counterparty credit rating on Allstate to 'A-/A-2' from 'A+/A-1'.