Sirius XM Gets B1 Rating on Senior Notes from Moody’s and 2 Other Heavily Traded Stocks to Follow

Sirius XM Radio Inc. (NASDAQ:SIRI): Current price $3.96

On Thursday, Moody’s Investors Service assigned B1 to Sirius XM Radio’s proposed $600-million senior notes. The company is expected to use the net proceeds from the new notes, together with some cash on hand to refinance the  existing 7.625-percent senior notes due 2018. All other ratings remain unchanged, including the Ba3 Corporate Family Rating, Ba3-PD Probability of Default Rating, as well as B1 instrument ratings on the existing senior notes. The B1 ratings on the proposed and existing senior notes are indicative of their effective subordination to the unrated secured revolver. Additionally, the stable rating outlook is unchanged.

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Rite Aid Corp. (NYSE:RAD): Current price $4.58

Shares of the number-three domestic drugstore chain are up almost 23 percent in very heavy trading after the firm elevated its profit forecast due to increasing sales at remodeled stores. In a Thursday statement, Rite Aid said that net income in the year through February will be up to 27 cents per share, versus a prior estimate of a maximum of 16 cents. The average of three analysts’ estimates compiled by Bloomberg came to 13 cents.

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Groupon Inc. (NASDAQ:GRPN): Current price $12.58

Groupon shares are up over 10 percent Thursday, after analyst Jordan E. Rohan at Stifel Nicolaus indicated that the online deals firm still has opportunities for growth, and upgraded the stock from Hold to Buy. Rohan published a note praising Groupon’s move away from depending on email and centering upon mobile and app-based commerce, along with its endeavors to streamline operations.

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