S&P: DISH notes BB-, view stable

Standard & Poor's said it affirmed its ratings, including the BB- corporate credit rating, on DISH Network Corp. and revised the outlook to stable from positive.

At the same time, S&P assigned its BB- issue-level rating and 4 recovery rating to DISH's proposed senior unsecured notes, being issued by subsidiary DISH DBS Corp. The 4 recovery rating indicates the expectation for average (30% to 50%) recovery in the event of a payment default.

In addition, the agency affirmed the existing issue-level ratings on the company's unsecured notes and revised the existing recovery ratings to 4 from 3.

"The outlook revision reflects a continued rise in debt leverage, in combination with ongoing uncertainty regarding the company's strategy with regard to its wireless investments," S&P credit analyst Michael Altberg said in a news release.

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