S&P gives Cox notes BBB

S&P said it rated Cox Communications Inc.’s unsecured notes due in 2028 and 2033 BBB.

The ratings are in line with the issuer credit rating on parent Cox Enterprises Inc. because the debt ranks equally with other debt and is guaranteed by Cox Enterprises, S&P said.

The company will use proceeds for general corporate purposes, which include repayment of the $461 million of 2.95% notes due 2023.

The outlook is stable.

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