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 […]
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 […]
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 […]
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, […]
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 […]
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, […]
SES unveiled its end-of-year numbers on February 24th and in its post-results analysts call, CEO Steve Collar explained that the satellite operator was “well ahead” of its work to prepare for FCC-mandated C-band conversion work for the SES. Collar stated the C-band Phase 2 work meant SES was on track to receive the remaining $3bn […]
The FCC has approved Intelsat’s exit from Chapter 11 bankruptcy and the transfer of the ‘old’ company’s ‘debtor in possession’ (DIP) assets to the newly established parent business based in Luxembourg. The FCC’s International Bureau chief Thomas Sullivan said the transfer was in the public interest and approved the request. The FCC ruling explains the […]
The SES vs Intelsat 50/50 trial over FCC C-band incentive payments has finished its initial examination and cross examination of witnesses. Far fewer witnesses were called by either party and consequently the hearings lasted just 6 full days instead of the 10-12 initially expected. Judge Keith Phillips ruled that both parties must submit their “findings […]
Eutelsat had a bad day on February 17th in terms of its share price. Poor half-year results and the company pushing out to its 2023/2024 financial year any prospect of much improvement, drove its share price down from €11.39 to €10.70. There are also two satellite launches which are suffering damaging delays. The Paris-based satellite […]