SAN FRANCISCO (Standard&Poor's) Dec. 21, 2012--Standard&Poor's Ratings Services today placed its `BB+' issue-level rating on an aggregate $710 million of senior secured, first-lien credit facilities of co-borrowers Acquisitions Cogeco Cable II L.P. and Atlantic Broadband (Penn) Holdings Inc. on CreditWatch with negative implications. The credit facilities were used to partly finance the Nov. 30, 2012, acquisition of Quincy, Mass.-based cable-TV provider Atlantic Broadband Finance LLC (B+/Watch Pos/--) by Montreal-based cable operator Cogeco Cable Inc. (BB+/Watch Neg/--). These credit facilities are restricted debt obligations of Atlantic Broadband Atlantic Broadband without recourse to Cogeco. The recovery rating on that debt remains at `2', reflecting our expectation for substantial (70% to 90%) recovery of principal in event of a
