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Article: Fitch Affirms Mediacom's IDR at 'B'; Outlook Remains Stable.
- Article from:
- Business Wire
- Article date:
- May 27, 2009
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NEW YORK -- Fitch Ratings has affirmed the 'B' Issuer Default Rating (IDR) for Mediacom Communications Corporation (Mediacom, or MCCC) and its wholly owned subsidiaries Mediacom LLC and Mediacom Broadband LLC (see complete listing of ratings affirmed below). Approximately $3.4 billion of debt as of March 31, 2009 is affected. The Rating Outlook for all of Mediacom's ratings is Stable.
Overall Fitch's ratings for Mediacom reflect the company's high leverage relative to its peer group. While acknowledging the positive operational momentum experienced during the second half of 2008 and the beginning of 2009, MCCC's service penetration levels and average revenue per ...