S&P rates Mediacom loan BB-

Standard & Poor's said it assigned its BB- bank loan rating to the $1.15 billion senior secured credit facility of various Mediacom LLC subsidiaries.

The BB- corporate credit rating and all other ratings on Mediacom and its subsidiaries are affirmed. The outlook is stable.

The Mediacom LLC credit facility closed on Oct. 21 and initial loan proceeds of $658 million were used to repay and retire the former Mediacom USA and Mediacom Midwest bank facilities, as well as for transaction expenses.

S&P said the ratings on Mediacom continue to reflect mature revenue growth prospects for video services, competitive pressure on video customer levels from intense satellite direct-to-home TV competition, the less lucrative characteristics of the company's smaller markets, potential for increased competition from telephone companies and high financial risk from largely debt-financed cable system acquisitions and rebuilding projects.

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