Moody's reviews Intelsat for upgrade

Moody's Ratings said it placed Intelsat Holdings Sarl's B2 corporate family rating and B2-PD probability of default rating on review for upgrade. Moody's also placed Intelsat's main operating company, Intelsat Jackson Holdings SA's Ba2 senior secured revolving credit facility rating and B2 senior secured first-lien notes rating on review for upgrade. Previously, the outlook was positive for both Intelsat and Intelsat Jackson.

On Tuesday, Intelsat and SES SA, rated Baa3 by Moody’s, announced that they agreed SES would buy Intelsat for $3.1 billion.

"The ratings have been placed on review for upgrade because Intelsat is being acquired by a company that has a stronger credit profile," said Peter Adu, a Moody's vice president and senior credit officer, in a press release.

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