Fitch: DirecTV unchanged

Fitch Ratings said it believes that the proposed merger between DirecTV Group, Inc. and Liberty Entertainment, Inc. will not affect the ratings assigned to DirecTV Holdings, LLC.

DirecTV Holdings is a wholly owned subsidiary of DirecTV Group, the agency noted.

Fitch said that DirecTV Holdings' issuer default rating and senior unsecured debt are rated BB while it currently rates the company's senior secured debt BB+.

The outlook is stable.

From Fitch's viewpoint, DirecTV Holding's credit profile is strong relative to the current ratings and, pending Fitch's review of DirecTV Group's post-merger capital structure, that there is sufficient capacity within the current ratings to accommodate the $2 billion of debt held at Liberty in a credit neutral manner.

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