New York, August 02, 2016 -- Moody's Investors Service (Moody's) said that DISH Network Corporation's (DISH) announcement that it plans to offer $2 billion of convertible notes (with an option to purchase up to an additional $400 million aggregate principal amount of the notes) negatively impacts the company's credit standing but will not impact its Ba3 Corporate Family Rating (CFR) or its wholly owned subsidiary, DISH DBS Corporation's (DISH DBS) Ba3 senior unsecured debt rating. The net proceeds of the offering are intended to be used for general corporate purposes, which may include wireless and spectrum-related strategic transactions. The new convertible notes will be unsecured obligations of DISH. Upon any conversion, DISH Network will settle its conversion obligation in cash, shares of its Class A Common Stock, or a combination of cash and shares of its Class A Common Stock, at its election.

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