New York, October 11, 2013 -- Moody's Investors Service ("Moody's") said Sirius XM Radio, Inc. ("Sirius") announced the board approval of an additional $2 billion common stock repurchase program. The company is expected to fund the repurchases through cash on hand, future cash flow, and additional borrowings. There is no immediate impact on credit ratings given management's confirmation of its 3.5x reported leverage target and its track record for maintaining leverage within its target range.
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