Sirius XM put on S&P


That’s a good thing. A company can be put on the “CreditWatch” list at Standard & Poors in anticipation of either a downgrade or an upgrade of its credit ratings. In this case, it’s the latter.

S&P said the look at upgrading the ratings for Sirius XM Radio Inc. and its subsidiary, XM Satellite Radio Holdings Inc., is based on its lowered debt leverage and increased EBITDA. 

Sirius XM last reported that its Q2 revenues rose 16% and EBITDA 17%.

The company’s current “B” rating is in junk bond territory, but only two notches below investment grade.