S&P rates Cogeco loan BB

S&P said it assigned BB issue and 3 recovery ratings to Cogeco Financing 2 LP’s planned $900 million incremental first-lien term loan due 2028. The issuer is a subsidiary of Cogeco Communications (USA) Inc.

The agency affirmed all its Cogeco ratings, including the BB issuer rating.

Cogeco plans to use the proceeds to acquire WideOpenWest's (WOW's) Cleveland and Columbus, Ohio overbuilder assets in a transaction valued at about $1.1 billion.

The outlook is stable.

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