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Fitch rates EchoStar convertibles B, notes BB-
Fitch Ratings said it rated EchoStar Communications Corp. and its wholly owned subsidiary, Echostar DBS Corp., by assigning a B rating to EchoStar Communications' convertible subordinated notes and a BB- rating to EchoStar DBS' senior notes. The outlook is stable.
Fitch's said its ratings reflects EchoStar Communications' size and scale, solid liquidity position and the expectation for EBITDA growth and free cash flow generation.
Fitch's said its ratings also consider the intense competition for subscriber market share with cable multiple system operators and other direct broadcast satellite providers, EchoStar Communications' lack of revenue diversity and narrow product offering relative to cable and the high cost to acquire and retain subscribers.
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