DIRECTV 2006 Annual Report Download - page 73

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THE DIRECTV GROUP, INC.
Ba2 Corporate Family Rating and Ba2 senior unsecured ratings. On June 8, 2005, Moody’s assigned a
Ba2 rating to DIRECTV U.S.’ 6.375% senior notes discussed in Note 9 of the Notes to the
Consolidated Financial Statements in Part II, Item 8 of this Annual Report. On September 22, 2006,
Moody’s changed DIRECTV U.S.’ senior secured rating from Ba1 to Baa3 and DIRECTV U.S.’ senior
unsecured rating from Ba2 to Ba3 in connection with the implementation of its new rating
methodology. The DIRECTV U.S.’ Corporate Family Rating was unchanged and all ratings remained
on stable outlook. On December 22, 2006, Moody’s affirmed DIRECTV U.S.’ ratings, but changed
DIRECTV U.S.’ outlook from stable to negative, following the announcement of the pending
transaction between News Corporation and Liberty.
On April 5, 2005, in connection with our April 2005 refinancing transactions, S&P assigned a BB
rating to DIRECTV U.S.’ senior secured credit facility and affirmed DIRECTV U.S.’ BB corporate
and BB- senior unsecured ratings. On June 8, 2005, S&P assigned a BB- rating to DIRECTV U.S.’
6.375% senior notes and affirmed its corporate, senior secured and unsecured ratings. All ratings
remain on stable outlook.
***
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