By Relmor Demitirius -
The hits just keep on coming. Sirius XM Radio (NASDAQ:SIRI), after reporting solid numbers for Q3 and re-issuing guidance on growth (20% increase in revenue expected in 2010) and subscribers (positive growth projected for 2010) for the first time all year, has been receiving many upgrades as of late. The most important upgrade came last week, with the S & P raising Sirius XM’s credit outlook from Stable to Positive. This means, according to their own system, a credit rating upgrade could come soon. The last time the S & P raised Sirius XM’s credit outlook, they did indeed receive a credit rating upgrade shortly after. It is already at B-, and another improvement would send them into investment grade territory, which can equal huge interest savings on bond debt, and bank loans. That help goes right to their bottom line, as Sirius XM has been working fervently since 2009 began, to reduce debt, move debt due further out, and rework existing deals to lower interest rates.
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