Fitch affirms Mediacom

Fitch Ratings said it affirmed the B+ issuer default ratings on Mediacom Communications Corp. and its wholly owned subsidiaries, Mediacom LLC and Mediacom Broadband LLC, as well as the subsidiaries' senior unsecured debt at B+ with a recovery rating of RR5.

Mediacom Illinois LLC, Mediacom Arizona LLC, Mediacom Indiana LLC, Mediacom California LLC, Mediacom Minnesota LLC, Mediacom Delaware LLC, Mediacom Wisconsin LLC, Mediacom Southeast LLC, Mediacom Iowa LLC and Zylstra Communications Corp. have issuer default ratings of B+ and senior secured ratings of BB+ with recovery ratings of RR1.

MCC Georgia, LLC, MCC Illinois, LLC, MCC Iowa, LLC amd MCC Missouri, LLC have issuer default ratings of B+ and senior secured ratings of BB+ with recovery ratings of RR1.

The outlook is stable.

The ratings were affirmed following news that Mediacom's chairman and chief executive offer has withdrawn his offer to purchase all of Mediacom's outstanding class A and class B common stock, Fitch said.

Fitch said the transaction, if approved, would have potentially weakened the company's credit profile by increasing leverage and hindering its ability to generate expected levels of free cash flow.

The ratings reflect the company's stable operating profile, considering the competitive operating environment, and weak housing and high unemployment trends, the agency said.

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