PARIS (Standard&Poor's) Sept. 13, 2002--Standard&Poor's Ratings Services revised its outlook on Luxembourg-based SES Global S.A. (SES Global), the world's largest satellite operator, to positive from stable, following the company's release of its first-half 2002 financial results. At the same time, SES Global's long-term triple-'B' and short-term 'A-2' corporate credit ratings were affirmed. "The positive outlook reflects Standard&Poor's view that SES's strong earnings and cash flow generation, coupled with a material reduction in capital expenditures from 2003 onward, could result in credit measures commensurate with a higher rating," said Standard&Poor's credit analyst Melvyn Cooke. The change in outlook stresses the company's lower-than-expected leverage after its November 2001 acquisition of GE Americom, as well
