Upgraded systems provide advanced services growth potential; and Experienced management. Intense competition from direct to home (DTH) satellite TV companies; Small company size limits programming buying power; Less lucrative characteristics of the largely rural system portfolio; and High leverage and minimal discretionary cash flow. The ratings on Quincy, Mass.-based Atlantic Broadband Finance LLC (Atlantic) reflect high financial risk from largely debt-financed cable TV system acquisitions, minimal discretionary cash flow because of capital spending needed to complete system upgrades, the challenges of stabilizing negative subscriber trends in light of heavy competition from direct-to-home (DTH) satellite TV operators, and cost disadvantages from its small company size. Tempering factors include the company's position as the dominant provider of pay-TV services in its markets
