Advanced Television

cband

SES bosses do well out of C-band deal

CEO Steve Collar and seven other senior executives at SES have been awarded attractive bonuses as a result of securing the first $1 billion in FCC incentive payments for clearing C-band frequencies over the US. The news emerged in the SES Annual Report which was adopted and approved by the SES Annual general Meeting on […]

April 11, 2022By Chris Forrester

Intelsat: C-band transition update

Intelsat has updated the FCC with its final report on its C-band transition. One of the 601-page document’s major elements its listing each of its clients and their Earth stations and which of them elected to take cash from Intelsat for their local filter work instead of allowing Intelsat to undertake the tasks. “Undertaking the […]

April 1, 2022

ITU toughens up on late satellites

It might be logical to think that coming out of a two year pandemic – which saw staff and logistical problems for satellite operators and the companies building their new satellites – might offer a reasonable excuse for missing launch deadlines. ‘Not so’, implies the International Telecommunications Union (ITU). The ITU has firmly rejected applications […]

March 28, 2022

Fitch: GES acquisition Neutral for SES rating

SES’s (BBB/Stable) planned acquisition of DRS Global Enterprise Solutions (GES), provider of commercial satellite communications to the US government, will have no impact on SES’s ratings, Fitch Ratings says. SES announced March 21st that it had entered into an agreement with Leonardo DRS, a US subsidiary of Leonardo S.p.A. (BBB-/Stable), to acquire GES for $450 […]

March 24, 2022

Final date set for SES vs Intelsat

The long-running legal dispute between SES and Intelsat over the 50/50 division of payments from the FCC and its ‘incentive’ payments for the C-band spectrum and re-allocation for 5G now has an end in sight. The new date is April 19th and the Virginia bankruptcy court, under Judge Keith Phillips, will hear both sides and […]

March 22, 2022

SES to accelerate US C-band availability

SES used the opening day of the Satellite 2022 show to announce that it has signed a contract with Verizon in the US to expand the giant cellular operator’s access to converted C-band frequencies for 5G use ahead of the FCC’s deadline. The deal means an extra $170 million (€153.7m) in revenues although there are […]

March 21, 2022By Chris Forrester

Telesat reports “modest” revenues

Telesat, the Canadian satellite operators, has published its financial results for the three-month and one-year periods ended December 31st 2021. “I am pleased to report our 2021 fourth quarter and full year results as a dual-listed, public company,” commented Dan Goldberg, Telesat’s President and CEO. “Despite modestly lower year-over-year revenues and Adjusted EBITDA, adjusted for […]

March 21, 2022

Fitch: BBB for SES, B+ for Intelsat

SES has received a favourable review from Fitch Ratings for its borrowings. Fitch says that SES’s long-term debt is rated at ‘BBB’ and its subordinated borrowings are rated at ‘BB+’. Fitch highlights the options that SES will shortly have from the FCC’s next C-band incentive payments of some $3 billion. Sandeep Jalan, CFO at SES, […]

March 14, 2022

Bank rates SES ‘Buy’, Eutelsat ‘Hold’

A report from investment analysts at Berenberg Bank looks closely at satellite operator SES, and maintains a ‘Buy’ rating although the bank softens its Price Target on the operator’s shares, and lowers its target slightly from €10 to €9.80 (today at €6.92). The bank’s report says that over the next two years SES has three […]

March 9, 2022

Moody’s down rates some SES debt

Moody’s Investors Service credit ratings agency has given a “negative outlook” to certain debt owed by satellite operator SES. Moody’s overall rating is their Baa2 rating on SES SA and SES Global Americas Holdings GP. Moody’s says the outlook for both entities remains negative. “The ratings affirmation reflects the slower reduction in the company’s revenues, […]

March 7, 2022By Chris Forrester