S&P gives MCNA B

Standard & Poor's said it assigned its B corporate credit rating to MCNA Cable Holdings LLC, parent company of San Juan Cable LLC.

The outlook is negative.

The agency said it also lowered its ratings on San Juan Cable, adding that the corporate credit rating was lowered to B from B+, while the ratings on the first-lien bank facilities were lowered to BB- from BB and the second-lien bank loan rating was cut to CCC+ from B-.

The outlook is negative.

The agency noted that the downgrade reflects San Juan Cable's weakened business profile. Basic subscriber losses in the past two quarters were about 2.4% and 3.3%, respectively, on an annual basis and we are concerned losses will continue through the remainder of 2007.

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