Fitch: Mediacom on watch

Fitch Ratings said it placed the B+ issuer default rating for Mediacom Communications Corp. and its wholly owned subsidiaries Mediacom LLC and Mediacom Broadband LLC on rating watch negative.

Additionally, specific issue ratings assigned to the company's senior secured and senior unsecured debt have also been placed on rating watch negative, the agency noted.

Fitch said that its ratings action follows the company's announcement that its board of directors has received a proposal from the company's chairman and CEO Rocco B. Commisso to acquire all of Mediacom Communication's outstanding class A and class B common stock not already beneficially owned by Commisso for $6.00 per share in cash.

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