S&P affirms AmerCable

Standard & Poor's said it affirmed its B- corporate credit rating on AmerCable Inc., along with all issue-level ratings on the company's debt.

At the same time, the agency said it removed the ratings from Creditwatch, where they had been placed on July 23, following an amendment request by the company to use up to $20 million of internally generated cash and equity sponsor contributions to repurchase first-lien notes at less than par through a series of modified Dutch tender auctions.

"AmerCable's inability to secure requisite lender consent for this amendment prompted the affirmation," said S&P credit analyst Susan Madison.

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