NEW YORK (Standard&Poor's CreditWire) Sept. 20, 1999--Standard&Poor's today assigned its triple-'C'-minus rating to CD Radio Inc.'s $125 million convertible subordinated notes due 2009, drawn down from the company's $500 million Rule 415 shelf registration. At the same time, the triple-'C'-plus corporate credit and senior secured debt ratings for the company were affirmed. The outlook remains negative. Concurrently with the notes offering, CD Radio is offering 2 million shares of its common stock, which it expects will yield about $60 million. Proceeds from the offerings will be used for the continued buildout of CD Radio's satellite-to-car radio broadcast system and for general corporate purposes. Ratings reflect the substantial financial and business development risks that CD Radio faces
