Moody's rates Hughes Network SGL-3

Moody's Investors Service said it affirmed Hughes Network Systems, LLC's B1 corporate family and probability-of-default ratings, Ba1 (LGD1, 2%) senior secured bank facility rating and B1 (LGD4, 53%) senior unsecured long-term loan rating.

The outlook remains stable.

Moody's also assigned a speculative grade liquidity rating of SGL-3, indicating adequate liquidity.

Review of annual financial results and related financial disclosure supports existing perspectives on ratings, the agency said.

Ratings are supported by a strong market position, favorable industry dynamics and sizable backlog of non-cancelable enterprise contracts, Moody's said.

The company's small size, vulnerability to technological erosion of market access advantage and its evolving business profile continue to constrain the ratings, the agency noted.

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