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Moody's confirms Mediacom
Moody's Investors Service said it confirmed its SGL-2 speculative grade liquidity rating for Mediacom Communications Corp.
The SGL-2 rating continues to reflect the company's "good" liquidity profile as anticipated by Moody's over the forward 12-month period. Moody's believes that cash flow from operations should be sufficient to fund planned capital expenditures and debt service requirements, and further that the company continues to maintain sufficient covenanted availability under its three revolving credit facilities if needed to cover any requisite interim period cash burn.
Moody's projects that the company's consolidated EBITDA through the four quarters ending March 2005 will approximate $440 million or more.
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