S&P puts Mediacom on watch

Standard & Poor's said it placed Mediacom Communications Corp.'s BB- corporate credit rating on CreditWatch with negative implications.

The action follows the company's reduced estimates for revenue and EBITDA growth in 2007.

S&P said it is unlikely Mediacom will achieve a meaningful reduction in debt given its recent operating performance and stock repurchases under a new $50 million program. Basic subscriber losses have continued and demand for advanced services has been weaker than expected, the agency said.

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