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S&P boosts Mediacom
S&P said it raised Mediacom Communications Corp.’s ratings a notch to BBB+.
Mediacom boosted its earnings and cut its debt such that its debt-to-EBITDA metric fell to 1.4x as of the 12 months ended Sept. 30, which is under S&P Global Ratings' 2.5x upgrade trigger.
“The company's controlling shareholder has publicly committed to maintaining debt to EBITDA of less than 2x, which provides us with greater clarity into Mediacom's financial policy and potential for re-leveraging,” S&P said in a press release.
The outlook is stable.
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