Fitch cuts, pulls DirecTV

Fitch Ratings said it downgraded all of DirecTV Holdings LLC's issue ratings, including its long-term issuer default rating to BB+/stable from BBB+/rating watch negative, following the close of DirecTV Entertainment Holding LLC's spinoff transaction.

Fitch said it also withdrew Holdings' IDR and issue ratings, as these are no longer considered relevant to the agency's coverage.

Holdings' notes represent the legacy debt of DirecTV before the deal closed. After the close, these notes transferred to DirecTV Entertainment. DirecTV Financing LLC's debt ratings are unaffected, Fitch said.

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