L-3 Communications Corporation -- Moody's says L-3 Communications' accounting review and charges are negative; Baa3 senior unsecured ratings unaffected at this time

New York, July 31, 2014 -- Moody's Investors Service said that the internal accounting review and revisions to financial statements associated with improper accounting of a government contract that L-3 Communications Corporation("L-3") today disclosed with preliminary second quarter 2014 results are credit negative developments. The Baa3 senior unsecured rating is unaffected at this time. Nonetheless, the circumstances that lead to these charges raise financial control considerations that could grow in magnitude, as well as a series of other potential issues. For further information please see www.moodys.com.

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