Standard & Poor's Ratings Services on March 31 upgradedEchoStar Corp. unit 'scorporate credit rating to BB from BB-.
The rating agency raised its issue-level rating on Hughes'senior secured notes to BBB- from BB+. The issue-level rating on thecompany's senior unsecured notes was raised to BB from BB-.
The outlook on the company is stable.
S&P said the ratings action is based on expectationsthat Hughes' continued EBITDA growth "will result in net adjusted leveragein the high-1x area by the end of 2016 (declining to the mid-1x area in 2017), relativeto our 2x upgrade target."
S&P Ratings and S&PGlobal Market Intelligence are owned by McGrawHill Financial Inc.