New York, March 23, 2015 -- Moody's Investors Service ("Moody's") upgraded Brocade Communications Systems, Inc.'s corporate family rating to Ba1 from Ba2 and probability of default rating to Ba1-PD from Ba2-PD. Moody's also upgraded the company's unsecured convertible notes due 2020 and unsecured notes due 2023 to Ba1 from Ba2. The ratings upgrades were driven by Brocade's continued stable performance as well as the expectation that the company will maintain a leadership position in the storage area networking industry and remain a relevant niche player in the Ethernet business. Though longer term concerns remain about the evolution of storage area network architectures and the role of the Fibre Channel standard, Moody's expects Brocade's expertise in storage and Ethernet networks will ensure them a prominent role in the industry. The ratings outlook is stable.

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