Standard & Poor's Ratings Services has assigned its issue-level and recovery ratings to Englewood, Colo.-based satellite-TV provider DISH Network Corp.'s proposed $900 million of senior notes due 2017 and $1 billion of senior notes due 2022. Our issue-level and recovery ratings remain unchanged. The company intends to use the proceeds for general corporate purposes. We simulate a default during 2017, reflecting intense competition from cable-TV and telephone companies. In the event of a default, we expect the company would reorganize rather than liquidate, and have valued the enterprise accordingly in arriving at our recovery estimations. The issuer of the various unsecured note issues is DISH DBS Corp. The notes are unsecured senior obligations, which all rank equally and senior to...
Companies mentioned in this report are:
- DISH Network Corp.
- DISH DBS Corp.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis