S&P rates DISH DBS notes BB-

Standard & Poor's said it assigned its BB- issue-level and 3 recovery ratings to DISH DBS Corp.'s $1 billion of 7.875% senior unsecured notes due 2019.

The proceeds are to be used for general corporate purposes, the agency noted, adding that it also affirmed the BB- corporate credit rating on DISH Network Corp. and the BB- issue-level and 3 recovery ratings on DISH DBS Corp.'s unsecured senior notes.

The outlook is stable.

"The ratings on DISH reflect the intense competition from cable TV system operators, direct-to-home satellite rival the DirecTV Group Inc. (BBB-/stable), and the local telephone companies," said credit analyst Naveen Sarma, "as well as and operational challenges that the company has faced since late 2007."

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