Reuters reported good news for Sirius XM as Standard & Poor's Ratings Services placed its 'CCC' corporate credit rating for the company.
"For the Sirius rating to be raised, the company will need to demonstrate progress toward achieving sustainable profitability and positive discretionary cash flow, and address its sizable remaining 2009 maturities," said Standard & Poor's credit analyst Hal Diamond.
"We currently believe that the likely extent of a potential upgrade of the corporate credit rating would be limited to one notch, to 'CCC+'. AN upgrade from the 'CCC' category would entail progress addressing maturities and operating cash requirements beyond 2009." (New York Ratings Team)
Love to hear good news about our favorite car product. Let's keep it up.
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