The ratings on Liberty Media Corp., including the 'BB+' corporate credit rating, remain on CreditWatch with negative implications, where they were originally placed on Dec. 15. 2008. The CreditWatch listing reflects the company's plan to distribute a majority of its Liberty Entertainment tracking stock assets to existing Liberty Entertainment tracking stockholders through the split-off of a newly formed subsidiary, Liberty Entertainment Inc. (LMEI). LMEI will comprise Liberty's entire 52% interest in the DIRECTV Group Inc. (DTV), its 65% interest in GSN LLC, 65% of FUN Technologies, and 100% of Liberty Sports Holdings Inc. LMEI will also be the obligor on about $2 billion of derivative borrowings. Subsequently in February 2009, Standard&Poor's Ratings Services updated the CreditWatch listing following
