NEW YORK (Standard&Poor's) Dec. 7, 2012--Standard&Poor's Ratings Services said today that its corporate credit rating and outlook on Sirius XM Radio Inc. (BB/Stable/--) is not currently affected by the announcement that its board of directors has approved a $2 billion common stock repurchase program and a $325 million special dividend payable on Dec. 28, 2012. The timing and magnitude of share repurchases have not been determined by the company. We expect Sirius XM will fund the share repurchase program through cash, which was $556 million as of Sept. 30, 2012, discretionary cash flow, and borrowings under its revolving credit facility. We do not expect leverage will increase above our 4.5x target for the company at the
