Fitch boosts Mediacom, gives loans BB+

Fitch Ratings said it upgraded the issuer default rating for Mediacom Communications Corp. and its wholly owned subsidiaries Mediacom LLC and Mediacom Broadband LLC to B+ from B.

Additionally, Fitch said it has assigned a BB+/RR1 rating to the $250 million senior secured incremental term loan E entered into by the operating subsidiaries of Mediacom LLC.

Fitch added that it has also assigned a BB+/RR1 rating to the $600 million incremental term loan F entered into by the operating subsidiaries of Broadband.

The outlook is stable.

According to the agency, the upgrade reflects the continued strengthening of Mediacom's credit profile and Fitch's view that after generating nearly $100 million of free cash flow during the latest 12-month period ended March 31.

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