S&P Lowers Dish DBS Ratings to ‘CC’ From ‘CCC-’

S&P has lowered the issuer credit rating of Dish DBS and Dish Network Corp. to ‘CC’ from ‘CCC-’, saying their recent debt exchange offers are “tantamount to a default” as investors will receive less value than the promise of the original securities

• S&P has a negative outlook on Dish DBS and Dish Network
• Outlook on parent EchoStar Corp. and sister company Hughes Satellite Systems Corp. raised to positive to reflect improved liquidity position if transactions are completed as proposed
• NOTE: DirecTV and Dish to Merge to Create Largest US Pay-TV Provider

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