Moody’s: Hughes Satellite view to positive

Moody's Investors Service said it affirmed Hughes Satellite Systems Corp.’s corporate family rating at B1 and changed the outlook to positive from stable.

As a part of the same action, the agency affirmed Hughes' probability of default rating at B1-PD, senior secured notes ratings at Ba2, senior unsecured notes at B3 and speculative grade liquidity rating at SGL-1 (very good).

"The outlook change reflects good satellite broadband growth prospects and financial flexibility afforded by a substantial cash balance, albeit with event risks depending on how management choses to deploy it," Moody's senior vice president Bill Wolfe said in a news release.

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