yeppers, it's good. if u follow s&p they have maintained a hold signal throughout all this, they will probaly end up being the only analyst to give good siri info.
yeppers, it's good. if u follow s&p they have maintained a hold signal throughout all this, they will probaly end up being the only analyst to give good siri info.
I was just about to post that.......thanks Tripping.
How can that be a bad thing? How can that news be spun bad?
Why would they do that right before a bankruptcy?
Looks like great news to me............
Last edited by Demian; 02-13-2009 at 05:53 PM.
beat ya too it :O
the only thing thats bad about it is that my portfolio is being transfered to another brokerage firm and i can't buy at this critical time. hopefully by end of next week. anyhow i have plans next week with my grandson, going up state snowmobiling during school vacation.
Long siri
TEXT-S&P affirms Sirius XM Radio ratings
1 hour ago - Reuters
(The following statement was released by the rating agency)
Feb 13 - Standard & Poor's Ratings Services said today it revised its issue-level ratings on debt issued by Sirius XM Radio Inc. (SIRI) and its subsidiaries and removed the ratings from CreditWatch with negative implications, where they were placed on Jan. 16, 2009. We also assigned a preliminary 'CCC-/CC' rating to Sirius XM Radio's mixed Rule 415 shelf registration.
We made the following changes to the issue-level and recovery ratings at Sirius XM Radio Inc.: We affirmed the 'B-' issue-level rating on the senior secured term debt due 2012 and removed it from CreditWatch, leaving the recovery rating unchanged at '1', indicating our expectation of very high (90%-100%) recovery. We also affirmed the 'CCC-' issue-level ratings on the 9.625% notes due 2013, the 3.25% notes due 2011, and the 2.5% notes due Feb. 15, 2009, and removed them from CreditWatch. We assigned a recovery rating of '5' to the notes, indicating our expectation of modest (10%-30%) recovery.
In addition, we affirmed the 'CC' issue-level rating on the 8.75% subordinated notes due Sept. 29, 2009, and removed them from CreditWatch. We also assigned a recovery rating of '6' to the notes, indicating our expectation of negligible (0%-10%) recovery.
Standard & Poor's also made the following changes to the issue-level and recovery ratings on XM Satellite Radio Holdings Inc.: We affirmed the 'CC' issue-level rating on the 10% convertible notes due Dec. 1, 2009, and removed them from CreditWatch. We also assigned a recovery rating of '6' to the notes, indicating our expectation of negligible (0%-10%) recovery.
In addition, Standard & Poor's made the following changes to the issue-level and recovery ratings on XM Satellite Radio Inc.: We raised the issue-level rating on the senior convertible notes due May 5, 2009 to 'B-' from 'CCC+' and removed it from CreditWatch, leaving the recovery rating on this debt unchanged at '1', indicating our expectation of very high (90%-100%) recovery. We also raised the issue-level ratings on the 10% senior secured discount convertible notes due Dec. 31, 2009 to 'B-' from 'CCC' and removed them from CreditWatch. We also assigned a recovery rating of '1' to the notes, indicating our expectation of very high (90%-100%) recovery.
We also lowered the issue-level ratings on the 13% senior notes due 2014 and the 9.75% senior notes due 2014 to 'CC' from 'CCC-' and removed them from CreditWatch. We also assigned a recovery rating of '6' to the notes, indicating our expectation of negligible (0%-10%) recovery. In addition, we affirmed the 'CC' issue-level on the 7% subordinated exchangeable notes due 2014 and removed them from CreditWatch. We also assigned a recovery rating of '6' to the notes, indicating our expectation of negligible (0%-10%) recovery.
any1 want to decipher this lol? people on yahoo saying this isnt good, i dont see how? damn basher's always trying to make your judgement cloudy ^_^
after looking at it closer it is clearly an upgrade !
Its bad because there is little chance the September and December debt is paid off. This isn't new news though, as we all pretty much realize they can't repay right now. Thats why we are in this mess. After the weekend when new terms or BK (let's hope not unless its XM holdings) then the S&P can change their ratings to reflect what happens.