New York, May 14, 2013 -- Moody's Investors Service downgraded DISH Network Corporation's ("DISH") wholly owned subsidiary, DISH DBS Corporation's ("DISH DBS") Corporate Family Rating (CFR) to Ba3 from Ba2, and Probability of Default Rating (PDR) to Ba2-PD from Ba1-PD, following its announced issuance of $2.5 billion in new senior unsecured notes. The new notes are assigned a Ba3 (LGD4-67%) rating and all existing senior unsecured debt is downgraded to Ba3 (LGD4-67%) from Ba2 (LGD4-67%). The company's ratings were placed on review for downgrade on April 15, 2013, following its bid to buy Sprint Nextel Corporation ("Sprint"; rated B1, under review) for $25.5 billion. The ratings will remain under review for downgrade.

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