S&P lifts Knology

Standard & Poor's said it raised its corporate credit rating on Knology Inc. to B+ from B.

The outlook is stable.

At the same time, the agency said it raised the issue-level ratings on the company's senior secured debt to B+ from B. The recovery rating on the company's senior secured debt is unchanged at 4.

"The upgrade reflects its assessment that Knology's business risk profile has improved to weak from vulnerable given the company's ability to effectively handle competitive pressures during a protracted recession," said S&P credit analyst Allyn Arden.

Moreover, its upgrade reflects the company's improved credit protection measures and consistent generation of positive net free cash flow, S&P said, noting that total debt to EBITDA declined to 4.1x as of March 31 from 4.5x in the year-ago period, primarily from growth in HSD and advanced video services.

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