Dish’s Debt-Exchange Sale to DirecTV Is ‘Tantamount to a Default,’ Credit-Rating Agency Says

EchoStar’s proposed deal to sell Dish Network to DirecTV — for $1 cash and the assumption of $9.75 billion in debt — is akin to Dish defaulting on its debt securities, according to credit-rating agency S&P Global. As part of the deal, Dish DBS announced a “subpar exchange offer” for various tranches of its debt […]