Market Chatter: EchoStar Unit Hughes Network Nears Bankruptcy Filing
MT Newswires Live
Jul 29
EchoStar (ECHO) unit Hughes Network Systems is preparing to file for Chapter 11 bankruptcy as soon as this weekend, The Wall Street Journal reported Tuesday, citing people familiar with the matter.
The satellite internet company is facing a $1.5 billion debt maturity which is due on Aug. 1, according to the report.
Hughes Network Systems did not immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.