NEW YORK (Standard&Poor's) Feb. 20, 2007--Standard&Poor's Ratings Services said today it placed all its ratings, including the 'CCC' corporate credit rating, on New York City-based Sirius Satellite Radio Inc. on CreditWatch with positive implications, following the company's definitive agreement to an all-stock "merger of equals" with XM Satellite Radio Holdings Inc. (CCC+/Watch Developing/--). Under the terms of the agreement, Sirius shareholders will own 50% of the combined company and XM shareholders will receive 4.6 shares of Sirius common stock for each share of XM they own. As of Sept. 30, 2006, the company had approximately $1.08 billion in outstanding debt. "If the transaction is completed as proposed, without the incurrence of additional debt," said Standard&
