Atlantic Broadband CCR Raised To 'BB-' From 'B+'; Secured Debt Lowered To 'BB' From 'BB+' Jan 13
- ID: 2386378
- January 2013
- Standard & Poors
We believe Quincy, Mass.-based cable operator Atlantic Broadband Finance LLC could receive minimal credit support from owner Cogeco Cable Inc. if it were to face financial duress, though we do not anticipate the owner would ultimately intercede in the event of an Atlantic Broadband default. We are raising the corporate credit rating on Atlantic Broadband to 'BB-' from `B+' and removing it from positive CreditWatch. In addition, we lowered the issue-level rating on Cogeco Cable II L.P. and Atlantic Broadband (Penn) Holdings Inc.'s $710 million of secured debt to 'BB' from 'BB+' and removed the rating from CreditWatch negative. Our current view of imputed Cogeco support is consistent with a one-notch uplift of Atlantic Broadband's stand-alone credit profile; we had...
Companies mentioned in this report are:
- Atlantic Broadband Finance LLC
- Acquisitions Cogeco Cable II, LP
- Atlantic Broadband (Penn) Holdings Inc.
Action: Removed From CreditWatch
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Research type: News
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