S&P Raises Debt Rating On Sirius

Standard & Poor's raised its corporate credit rating on Sirius XM Radio Inc. SIRI, one day after the company and radio superstar Howard Stern announced that Stern was staying at Sirius for another 5 years. The rating agency raised its rating to BB- from B+ on improved operations, and kept its outlook at stable. "The action reflects the company's improving operating performance, declining debt leverage, and the prospects for continued improvement in credit measures for full-year 2010 and 2011," said Hal Diamond, S&P credit analyst. Shares of SIRI are up 1 cent to $1.40 on the day.