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Moody's gives Ba3 to Sirius XM notes
Moody's Investors Service said it assigned a Ba3 rating to Sirius XM Radio Inc.'s planned five- and 10-year senior unsecured notes offering totaling $2 billion.
Sirius XM's Ba3 corporate family rating, Ba3-PD probability of default rating, Ba3 senior notes rating and stable outlook remain unchanged, the agency said.
The proceeds and balance sheet cash will be used to repay $1 billion of the 4 5/8% senior notes due July 15, 2024 and the $1 billion outstanding of 5 3/8% senior notes due July 15, 2026.
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