| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers M > Headlines for Mediacom Communications Corp. > News item |
S&P cuts Mediacom Communications
Standard & Poor's said it lowered its ratings on Mediacom Communications Corp. and related entities. The corporate credit rating was lowered to BB- from BB, and the senior unsecured debt ratings were lowered to B from B+.
The bank loan rating on the senior secured credit facility of Mediacom Broadband Group was lowered to BB- from BB+, and a recovery rating of 2 was assigned to the facility. The bank loan ratings on the senior secured credit facilities of Mediacom Midwest Group and Mediacom USA Group were lowered to BB from BB+. A recovery rating of 1 was assigned to these facilities.
The outlook is stable.
"The downgrades are based on concerns about Mediacom's weakened business profile, reflected by a 4.4% year-over-year loss of basic video subscribers as of June 30, 2004, compared with 1.4% a year earlier," noted S&P credit analyst Eric Geil.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.