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?
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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
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.
Last edited by Siriusowner; 02-13-2009 at 07:09 PM.
I was disagreeing with doobz26. We must have answered about the same time
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.
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