Lumen Ratings Upgraded by Top 3 Global Ratings Agencies

Lumen cites debt reduction, financial flexibility, and enterprise customer growth as key factors behind ratings improvements.

Feb. 23, 2026 at 11:55am

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Lumen Technologies announced that it has received upgraded ratings from all three major global ratings agencies - Fitch Ratings, Moody's Investor Service, and S&P Global. The agencies cited Lumen's significant debt reduction, extended debt maturity runway, strengthened liquidity and financial flexibility, and improved stability following strategic portfolio simplification as key factors behind the ratings improvements.

Why it matters

The ratings upgrades validate Lumen's multi-year transformation efforts to strengthen its balance sheet and reposition the company for sustainable growth in the AI-driven economy. The improved credit profile and financial flexibility will allow Lumen to continue investing in next-generation digital network infrastructure to support enterprise customers.

The details

Moody's upgraded Lumen's Corporate Family Rating to B2 from B3, citing the company's materially improved credit profile following a $4.8 billion debt reduction. Fitch upgraded Lumen's long-term issuer default rating to 'B' from 'CCC+', noting the meaningful deleveraging, strengthened liquidity, and extended debt maturities. S&P raised Lumen's senior unsecured debt rating to 'B' from 'CCC' and improved its recovery rating, reflecting enhanced recovery prospects for noteholders and improved leverage metrics.

  • Lumen announced the ratings upgrades on February 23, 2026.
  • Lumen will host an Investor Day on February 25, 2026 to outline its multi-year growth strategy and financial framework.

The players

Lumen Technologies

An American telecommunications company that provides fiber optic and copper-based networking solutions to enterprise and government customers.

Kate Johnson

The Chief Executive Officer of Lumen Technologies.

Fitch Ratings

One of the three major global credit rating agencies.

Moody's Investor Service

One of the three major global credit rating agencies.

S&P Global

One of the three major global credit rating agencies.

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What they’re saying

“These upgrades validate the hard work of our teams and the structural progress we've made to strengthen our balance sheet and reposition Lumen for sustainable growth.”

— Kate Johnson, Chief Executive Officer of Lumen

What’s next

Lumen will host an Investor Day on Wednesday, February 25, 2026 to outline the company's multi-year growth strategy and financial framework.

The takeaway

Lumen's ratings upgrades from the top three global ratings agencies demonstrate the company's successful transformation efforts to strengthen its balance sheet, improve financial flexibility, and position itself for long-term growth in the AI-driven economy.