S&P lowers Mediacom

Standard & Poor's said it lowered its ratings on Mediacom Communications Corp. and related entities, including the corporate credit rating, which was lowered to B+ from BB-.

The outlook is stable.

All ratings are removed from CreditWatch, where they were placed with negative implications on Nov. 8, after the company reduced its 2007 estimates for revenue growth to 6.5%-7% from 7%-8%, and for EBITDA growth to 4%-5% from 6%-7%, the agency said.

The downgrade reflects S&P's concern about Mediacom's inability to generate meaningful discretionary cash flow over the medium term and its recent operating performance, which continues to trail its peers.

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