Mitel's Credit Rating Raised by Moody's

May 20, 2010

Mitel Networks Corporation (Nasdaq:MITL), a trusted provider of unified communications software solutions, today announced that on May 19, 2010, Moody's Investor Service (Moody's) raised Mitel's corporate family rating to B3 from Caa1 and revised its rating outlook to stable from negative.

In its press release, Moody's noted that the upgrades followed the company's completion of its initial public offering on April 27, 2010 which "reduced its book debt by nearly $102 million" and stated "with good liquidity and expectations of modest cash flow surpluses, the ratings outlook is stable."

"We are extremely pleased with this upgrade as it further recognizes Mitel's strengthened financial position,"commented Steve Spooner, CFO, Mitel Networks.

About Mitel

A global market leader in business communications powering more than two billion business connections, Mitel helps businesses and service providers connect, collaborate and provide innovative services to their customers. Our innovation and communications experts serve business users in more than 100 countries. For more information, go to www.mitel.com and follow us on Twitter @Mitel.

Mitel is the registered trademark of Mitel Networks Corporation. All other trademarks are the property of their respective owners.

Contact Information

Mitel Public Relations

Email: [email protected]

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