S&P ups Cox outlook to positive

Standard & Poor's said it revised its outlook on Cox Enterprises Inc. and its subsidiaries to positive from stable.

The agency said it also affirmed the BBB- corporate credit and all other ratings, including the BB+ senior unsecured debt rating on Cox.

"The outlook revision reflects our expectations for improving credit measures," said S&P credit analyst Allyn Arden.

The ratings on Cox and its subsidiaries continue to reflect the company's diversified portfolio of cable TV systems, auto auctions and media businesses, which have solid operating margins and healthy free cash flow generating characteristics, the strong investment-grade characteristics of the cable TV unit, which is the third-largest operator in the United States, improving credit measures and significant asset value, the agency noted.

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