S&P: Grande Communications on positive watch

Standard & Poor's said it placed its ratings for Grande Communications Holdings Inc. on CreditWatch

with positive implications, including its CCC+ corporate credit and senior secured debt ratings.

The agency said the CreditWatch placement reflects its recognition of the progress the company has made in continuing to grow its cable TV subscriber base, as well as its telephone and broadband customers in the face of growing competition from both the incumbent telephone company and franchised cable TV operator.

S&P noted it will meet with management to discuss the company's longer-term strategy for anticipated increased competitive pressures.

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