S&P puts Sirius XM ratings on CreditWatch with positive implications
By APThursday, September 30, 2010
S&P puts Sirius XM ratings on CreditWatch
NEW YORK — Standard & Poor’s said Thursday that it put its ratings for Sirius XM Radio Inc. and XM Satellite Radio Holdings Inc. on CreditWatch and indicated they could be upgraded.
S&P holds a “B” corporate credit rating for Sirius.
The ratings service said the move stemmed from lower debt leverage and increased EBITDA, or earnings before interest, taxes, depreciation and amortization, at the New York-based satellite radio company. S&P attributed the changes to an increase in subscribers and some increases in prices.
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