S&P rates Mediacom notes B-

Standard & Poor's said it assigned its B- issue-level rating and 6 recovery rating to Mediacom LLC's proposed $200 million of senior unsecured notes due 2022. The 6 recovery rating indicates expectations for negligible recovery in the event of a payment default, the agency said.

All other ratings on Mediacom, including the B+ corporate credit rating, remain unchanged.

S&P said the ratings on Mediacom reflect a "highly leveraged" financial profile, along with what the agency considers a "fair" business risk profile.

The agency said the fair business risk assessment incorporates a mature core video business with modest revenue growth prospects; below-industry-average video, high-speed data, and telephony penetration; and competitive pressures on both the video customer base from direct-to-home satellite TV providers and HSD customers from telephone companies.

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