Fitch upgrade leaves Ericsson close to quitting junk

Ericsson is poised to win an investment grade credit rating after Fitch, the international agency, upgraded its debt by two notches and changed the outlook to positive from stable.

The Swedish telecoms equipment group has never had an investment grade rating from Fitch, which starting covering the group in December 2002, assigning it a double-B grade with a negative outlook. Double-B is two notches into junk territory.

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