On Aug. 2, 2005, Standard&Poor's Ratings Services assigned its 'CCC' rating to Sirius Satellite Radio Inc.'s proposed $500 million Rule 144A senior unsecured notes maturing in 2013. At the same time, Standard&Poor's affirmed its existing ratings on the New York, N.Y.-based satellite radio broadcasting company, including its 'CCC' corporate credit rating. The new proposed notes will replace the company's previously proposed $250 million senior unsecured note offering, which was postponed in the second quarter of 2005. Standard&Poor's 'CCC' rating on the $250 million senior note issue was withdrawn. The outlook remains stable. Proceeds will be used to repay $57.4 million in debt and to boost liquidity. On a June 30, 2005, pro forma basis,
