S&P affirms GCI

Standard & Poor's said it affirmed its BB corporate credit rating on GCI, Inc.

The outlook is negative.

The rating for the company's $170 million senior secured bank facility is one notch above the corporate credit rating at BB+, with a recovery rating of 1. The $320 million of 7.25% senior notes due 2014 are rated B+.

The ratings on GCI primarily reflect its exposure to substantial business risk in a highly competitive telecommunication business, modest market size and lack of geographical diversity, S&P said, noting tempering factors include GCI's well-positioned incumbent cable business and modest leverage.

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