LONDON (Standard&Poor's) Nov. 12, 2004--Standard&Poor's Ratings Services said today it affirmed all its ratings on the Luxembourg-based leading global satellite-services company SES Global S.A. (SES Global), including its 'BBB+/A-2' corporate credit ratings, following the company's continued solid performance. The outlook is stable. "The affirmation reflects SES Global's continued world-leading position as a provider of satellite services and the company's underlying good performance in a challenging market," said Standard&Poor's credit analyst Michael O'Brien. "The ratings reflect the expectations that--despite industry overcapacity and currency volatility--the company will maintain good covenant headroom and that increased shareholder return is within the financial parameters of the ratings." Standard&Poor's also expects SES Global's acquisitions policy to be conservative.
