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S&P raises GCI outlook to stable
Standard & Poor's said it revised its outlook on GCI Inc. to stable from negative.
All ratings, including the BB corporate credit rating, were affirmed, the agency said, noting that the outlook revision reflects the company's solid operating performance and our expectations for healthy EBITDA growth and margin expansion as GCI converts local access lines to its own cable network and increases penetration of bundled services.
The ratings on GCI primarily reflect significant exposure to the highly competitive Alaskan local telecommunications market, lack of geographic diversity and limited long-term growth prospects, S&P said, adding that tempering factors include GCI's well-positioned incumbent cable TV business.
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