NEW YORK (Standard&Poor's) Feb. 17, 2009--Standard&Poor's Ratings Services today placed its 'CCC' corporate credit rating for Sirius XM Radio Inc. and XM Satellite Radio Holdings Inc. (which we analyze on a consolidated basis), as well as all issue-level ratings for the company, on CreditWatch with positive implications. The action is based on the recent announcement that Liberty Media Corp. (BB+/Watch Neg/--) will make a $530 million investment in Sirius and its subsidiaries in the form of a loan and an equity interest. Liberty has initially agreed to provide a $280 million 15% senior secured loan due December 2012 ($250 million which will be funded today), to repay Sirius' $171.6 million 2.5% convertible notes due Feb. 17,
