NEW YORK (Standard&Poor's) Dec. 13, 2012--Standard&Poor's Ratings Services said today that it assigned New York City-based satellite radio company Sirius XM Radio Inc.'s (BB/Stable/--) $1.25 billion senior secured revolving credit facility due 2017 our 'BBB-' issue-level rating (two notches above our 'BB' corporate credit rating on the company), with a recovery rating of '1'. The '1' recovery rating reflects our expectation of very high (90% to 100%) recovery in the event of a payment default. The 'BB' rating on the company's senior unsecured debt, with a recovery rating of '3' and 'BB' rating on its subordinated debt, with a recovery rating of '4' are not affected by the proposed addition of secured debt in the capital
