Moody's withdraws Sirius note rating

Moody's Investors Service said it has withdrawn the Caa1 senior implied rating and a SGL-3 speculative grade liquidity rating for Sirius Satellite Radio Inc. as well as a Caa2 rating for the proposed $250 million senior unsecured notes due 2015.

Sirius has informed Moody's that it does not intend to proceed with the financing under current market conditions, Moody's said.

As a result, Moody's has withdrawn the ratings. Sirius may proceed with a financing at a later date should market conditions improve.

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