S&P Lowers Dish Credit Rating, Citing Tight Credit Market
Citing Dish Network business challenges including its spending on its retail wireless business and the slow enterprise adoption of private 5G networks, S&P Global said Thursday it's lowering the company's credit rating. It said Dish needs substantial access to capital…
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while the credit environment tightens and its capital structure "may be unsustainable long term" due to higher interest rates and big refinancing requirements starting next year. It said Dish will likely need to raise $4 billion to $5 billion next year, another $2 billion to $3 billion in 2025 and $7 billion to $8 billion in 2026. Dish has $15 billion of unencumbered spectrum assets, but its ability "to successfully refinance its maturity wall in 2026 will depend on its ability to demonstrate that its wireless business can be profitable at scale, which remains highly uncertain," S&P said. Dish didn't comment.