LA PLATA, Maryland — Moody’s Ratings service downgraded SES’s outlook to negative from stable on Feb. 18, citing competition from non-GEO-orbit competitors and and downward pressure on capacity pricing, but left the company’s credit ratings unchanged.
Moody’s said the rating for SES’s long-term debt, Baa3, would be under stress starting late this year following the acquisition of rival Intelsat for $3.1 billion in cash. The ratings agency said the purchase is likely to increase SES’s leverage — gross debt . . .
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