S&P Cuts Rating for Hughes Electronics

Analyst Greg Zappin says the downgrade was based on a more thorough determination of the credit quality of Hughes on a stand-alone basis

On Mar. 8, Standard & Poor's lowered its credit rating on Hughes Electronics Corp. to BB-, and kept the ratings on CreditWatch negative. In addition, a rating of BB was assigned to the El Segundo, Calif.-based company's $1.812 billion bank credit facilities. That rating was also placed on CreditWatch negative.

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