Moody's says Harron not impacted

Moody's Investors Service said the announced asset sale of cable systems in Mississippi and Alabama by Harron Communications, LP does not impact its B2 corporate family rating or the stable outlook.

The agency expects the company to use proceeds to repay debt, lowering leverage and reducing interest expense, which is favorable for the credit profile. Depending on the amount of debt repaid, the transaction could possibly result in a one-notch upgrade of the Caa1 rating on the senior bonds and of the Ba3 rating on the first-lien credit facility of subsidiary MetroCast Cablevision of New Hampshire, LLC.

However, the sale reduces Harron's already small scale, Moody’s added.

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