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.
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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............
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
BAH -Quote:
Originally Posted by BAH-ME.
I corrected that URL back on the last page....it is correct now.
Sorry....
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 ^_^
thanx again. found link to be interesting. it's in my favoritesQuote:
Originally Posted by billhart22
Long siri
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.Quote:
Originally Posted by trippingthespeculatingpos
S & P thinks senior secured debt is ok. Everything else is garbage. That report suggests they think SIRI is going bankrupt. Senior secured holders are first in line and will be repaid. Although, I don't think there is any way for S & P to know what is going on at the negotiating table. So.. I don't think the report is worth much at this time. Not good, not bad. We already knew SIRI is in trouble unless they get a cash infusion.
negligible means that they have no view either way, doesntmean they Dont think it will be paid just that they neither think it will or wont.
I disagree. The key there is the bonds being taken off credit watch. The bonds were and will continue to be junk grade but it is the creditwatch notation that has changed
who are you disagreeing with? god im so confused lol
Great more info I don't understand... So Vice Pres. Patrick L Donnely "disposed" of some shares for zero? Is he giving up shares as an act of gratitude?
-----------------------
SEC Filing Alert
Sirius XM Radio Inc. has filed the following document(s) with the United States Securities and Exchange Commission.
________________________________________
Feb 13, 2009
Form 5 / Donnelly, Patrick L
Quote:
Originally Posted by trippingthespeculatingpos
"0 to 10%" is the chances of the debt being recovered. That means NOT GOOD. But whatever... That will all change Tuesday... for better or for worse.
While SIRI for the first time acknowledged it may seek bankruptcy by Feb. 17, we nevertheless think news bodes well for possibly larger restructuring of near-term maturities as it pursues refinancing talks, likely involving Echostar (SATS 15.17, NR) and Liberty Media (LCAPA 5.49, NR) (LMDIA 19.09, NR).|US;SIRI|20706|253970
S&P MAINTAINS HOLD OPINION ON SHARES OF SIRIUS XM RADIO
Citi, Barclay, Cypress funds, ALL increasing positions... NOW that is interesting... GOOD REPORT
http://www.ceoreportcards.com/2009/0...ldings-by-514/
What I find interesting about this is that the banks or the fund reported this on 2/12. Now it is a matter of finding if they indeed acquired the shares on 2/12 or this was just when they reported. Anyhow, at this point in time it is irrelevant, because even if the acquired them 2 weeks ago or 2 months ago, this means they know something we don't but this signals that they are confident in SIRIUS and that the company my not go BK !!!
...Unless of course they are swing or day trading, which I doubt.
I was disagreeing with doobz26. We must have answered about the same timeQuote:
Originally Posted by trippingthespeculatingpos
That is fairly standard lingo for junk status bonds. Even if we get out of the current situation without BK the bonds (except the secured) will still have junk status. I have three at the moment, in addition to common stock. The ones I have pay a rate of 9.62%. They are highly risky but stilll slightly safer than common stock.Quote:
Originally Posted by doobz26