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Research Update: Sirius 'CCC+' CCR Remains On Watch Developing After DOJ Blessing; FCC Approval Still Needed

Published Mar 26, 2008

737 words — Published Mar 26, 2008

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Abstract:

On March 26, 2008, Standard&Poor's Ratings Services said its ratings on New York City-based Sirius Satellite Radio Inc. remain on CreditWatch with developing implications, where we originally placed them on March 4, 2008, due to our concerns over standalone refinancing risks Sirius might face in 2009 if its merger with XM Satellite Radio Holdings Inc. (CCC+/Watch Developing/--) wasn't approved. The CreditWatch update follows the recent announcement by the Department of Justice that it will not block the proposed merger of the two companies. The merger must still be approved by the FCC. Ratings remain on CreditWatch developing pending clarification of the ultimate capital structure and refinancing needs of a combined entity, which could be challenged by the currently

Brief Excerpt:

RESEARCH Research Update: Sirius '###+' CCR Remains On Watch Developing After DOJ Blessing; FCC Approval Still Needed Publication date: 26-Mar-2008 Primary Credit Analyst: Michael Altberg, New York (1) 212-438-3950; michael_altberg@standardandpoors.com...

Report Type:

Research Update

Ticker

SIRI

Issuer

Sirius XM Radio Inc.

Sector

Global Issuers

Country

United States

Region

United States

Format:

HTML

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Summary: Sirius XM Radio Inc. – 2008/08/22 – US$ 225.00

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Sirius Satellite Radio Ratings' CreditWatch Implications Revised To Developing – 2008/03/04 – US$ 150.00

Research Update: Sirius Satellite Radio Inc. CreditWatch Implications Revised To Developing – 2008/03/04 – US$ 225.00

Summary: Sirius Satellite Radio Inc. – 2008/01/28 – US$ 225.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Research Update: Sirius 'CCC+' CCR Remains On Watch Developing After DOJ Blessing; FCC Approval Still Needed" Mar 26, 2008. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Sirius-CCC-CCR-Remains-On-Watch-Developing-After-DOJ-Blessing-FCC-Approval-Still-Needed-639062>

APA:	S&P Global Ratings’ Credit Research. (). Research Update: Sirius 'CCC+' CCR Remains On Watch Developing After DOJ Blessing; FCC Approval Still Needed Mar 26, 2008. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Sirius-CCC-CCR-Remains-On-Watch-Developing-After-DOJ-Blessing-FCC-Approval-Still-Needed-639062>

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