New York, April 12, 2016 -- Moody's Investors Service upgraded Ciena Corporation's corporate family rating to B1 from B2. Concurrently, Moody's affirmed the existing senior secured term loan at Ba2 and assigned a Ba2 to the company's proposed senior secured term loan. Ciena will use the proceeds from the term loan to supplement cash on the balance sheet and to repay a portion of its existing 0.875% convertible notes due June 2017. The ratings outlook is stable.
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