trending Market Intelligence /marketintelligence/en/news-insights/trending/aannmohzvfwg6vxgqf9f1a2 content esgSubNav
In This List

Moody's puts DISH, unit on review for downgrade

Blog

Discovery+ dives into a crowded US OTT video market

451 Research Podcast

Next in Tech | Episode 42: AI/ML Infrastructure

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Video

S&P Capital IQ Pro | Powered by Expert Insights


Moody's puts DISH, unit on review for downgrade

Moody's placed all ratings for DISH Network Corp. and its subsidiary DISH DBS Corp. on review for downgrade.

The review followed the company's declining trends in operating performance, including the secular pressure on satellite pay TV subscriptions and on EBITDA. The ratings put on review for downgrade included the Ba3 corporate family rating and its Ba3 senior unsecured debt ratings, the rating agency said Feb. 21.

DISH ended 2017 with 13.2 million pay TV subscribers, including 11.0 million DISH TV subscribers and 2.2 million Sling TV subscribers. For the fourth quarter of 2017, DISH reported net income attributable to the company of $1.39 billion, or $2.64 per share, up from net income of $355.0 million, or 73 cents per share.

The increase was due in part to an income tax benefit of about $1.2 billion due to an adjustment to deferred tax assets and liabilities related to tax reform legislation, while the company was also negatively impacted by a $112 million impairment of long-lived assets.