Dish DBS Corporation -- Moody's says a deal with Clearwire would provide strategic benefits but would have negative credit implications for DISH Network (Ba2 CFR)

New York, January 09, 2013 -- Moody's Investors Service said that DISH Network Corporation's (DISH -- Ba2 CFR) offer to acquire Clearwire Communications LLC's (Clearwire -- Caa2 CFR on review for possible upgrade) outstanding stock, purchase some of its spectrum assets and enter into a commercial agreement with Clearwire has a potential negative credit impact and positive strategic impact for DISH. Given Sprint Nextel Corp.'s (Sprint -- B1 CFR on review for possible upgrade) current ownership of over 50% of Clearwire, its recent agreement to purchase the rest of Clearwire and its rights associated with the merger agreement, and its strong objections to a transaction with DISH, we believe it is unlikely DISH could acquire control of Clearwire.

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