Liquid assets, providing near-term liquidity; and Increased number of automotive models under exclusive contracts being factory installed with Sirius radios. Large EBITDA losses and discretionary cash flow deficits; Substantial debt balances; Concerns about liquidity in the intermediate term if Sirius does not reverse negative cash flow or has difficulty accessing the capital markets; and Uncertainty surrounding the potential merger with XM Satellite Radio Inc. and the overall long-term demand for pay-radio services. The ratings on New York City-based Sirius Satellite Radio Inc. (Sirius) remain on CreditWatch, where they were placed with positive implications on Feb. 20, 2007. The CreditWatch placement followed the company's definitive agreement to an all-stock "merger of equals" with XM Satellite Radio Inc. (CCC+/Watch Pos/--). Standard&
