Atlantic Broadband Finance LLC Proposed Debt Rated 'BB+'; Company To Be Upgraded To 'BB' On Acquisition - S&P Global Ratings’ Credit Research

Atlantic Broadband Finance LLC Proposed Debt Rated 'BB+'; Company To Be Upgraded To 'BB' On Acquisition

Atlantic Broadband Finance LLC Proposed Debt Rated 'BB+'; Company To Be Upgraded To 'BB' On Acquisition - S&P Global Ratings’ Credit Research
Atlantic Broadband Finance LLC Proposed Debt Rated 'BB+'; Company To Be Upgraded To 'BB' On Acquisition
Published Aug 29, 2012
1542 words — Published Aug 29, 2012
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Abstract:

SAN FRANCISCO (Standard&Poor's) Aug. 29, 2012--Standard&Poor's Ratings Services said today that it rated an aggregate of $710 million of senior secured, first-lien credit facilities of co-borrowers Acquisitions Cogeco Cable II LP, Acquisitions Cogeco Cable II Inc., and Atlantic Broadband (Penn) Holdings Inc. The new credit facilities will be used to partly finance the approximate $1.4 billion purchase of Quincy, Mass.-based cable-TV provider Atlantic Broadband Finance LLC (ABB) by Montreal-based cable operator Cogeco Cable Inc. (BB+/Stable/--; Cogeco), a transaction expected to close by the end of 2012. The borrowers will be subsidiaries of Cogeco, but on closing of the acquisition, these credit facilities will become restricted debt obligations of ABB without recourse to Cogeco. We assigned our

  
Brief Excerpt:

RESEARCH Atlantic Broadband Finance LLC Proposed Debt Rated '##+'; Company To Be Upgraded To '##' On Acquisition Publication date: 29-Aug-2012 Primary Credit Analyst: Richard C Siderman, San Francisco (1) 415-371-5034; richard_siderman@standardandpoors....

  
Report Type:

Ratings Action

Ticker
239207Z
Issuer
Cogeco US Finance, LLC
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Atlantic Broadband Finance LLC Proposed Debt Rated 'BB+'; Company To Be Upgraded To 'BB' On Acquisition" Aug 29, 2012. Alacra Store. May 08, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Atlantic-Broadband-Finance-LLC-Proposed-Debt-Rated-BB-Company-To-Be-Upgraded-To-BB-On-Acquisition-1004307>
  
APA:
S&P Global Ratings’ Credit Research. (). Atlantic Broadband Finance LLC Proposed Debt Rated 'BB+'; Company To Be Upgraded To 'BB' On Acquisition Aug 29, 2012. New York, NY: Alacra Store. Retrieved May 08, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Atlantic-Broadband-Finance-LLC-Proposed-Debt-Rated-BB-Company-To-Be-Upgraded-To-BB-On-Acquisition-1004307>
  
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