S&P puts WideOpenWest on positive watch

S&P said it placed all its ratings on WideOpenWest Finance LLC on CreditWatch with positive implications.

The placement follows WideOpenWest’s agreement to sell five service areas to Cogeco Communications USA and Radiate Holdco LLC for a total of about $1.8 billion, the agency said.

“We believe the company will use the proceeds from these asset sales to reduce its large debt balance of $2.3 billion, which will likely provide it with additional financial flexibility to successfully execute its broadband-first strategy,” S&P said in a press release.

The agency said it plans to resolve the CreditWatch over the coming months. “We expect an upgrade, if any, will likely be limited to one or two notches.”

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