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Fitch has also affirmed the 'BB-' rating assigned to the senior unsecured notes issued by EDBS Corporation. The 'B' rating assigned to Echostar's subordinated convertible notes reflects the structural subordination of the notes to the senior notes issued by EDBS and the diminished recovery prospects of the convertible notes relative to the senior notes. Fitch's 'B' rating for DISH's subordinated convertible notes reflects the structural subordination of the notes to the senior notes issued by EDBS and the diminished recovery prospects of the convertible notes relative to the senior notes. |
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