Moody's gives Mediacom loan Ba3

Moody's Investors Service said it assigned a Ba3 rating to the $500 million term loan C of Mediacom Broadband LLC (Broadband), which replaces Broadband's $500 million term loan B.

The refinancing extended the maturity to February 2014 from September 2010 and reduced the pricing by 50 basis points, the agency noted.

Broadband is a wholly owned subsidiary of Mediacom Communications Corp. and Moody's also said it affirmed Mediacom's B1 corporate family rating, which reflects the company's high leverage, 7.6 times debt to EBITDA, operational challenges and industry competition.

These are offset somewhat by high asset value, an improving technological profile and solid liquidity, Moody's added. The outlook remains stable.

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