Bulletin: Atlantic Broadband Finance LLC's Plan To Acquire MetroCast Connecticut Assets Has No Immediate Ratings Impact

NEW YORK (Standard&Poor's) June 8, 2015--Standard&Poor's Ratings Services said today that there is no immediate impact to its 'BB-' corporate credit rating or stable outlook on Quincy, Mass.-based broadband cable provider Atlantic Broadband Finance LLC (ABB) following the company's announcement today that it plans to acquire substantially all of the assets of MetroCast Connecticut for $200 million. The acquired network passes 70,000 homes in eastern Connecticut and serves around 23,000 video subscribers, 22,000 Internet customers, and 8,000 phone customers generating expected revenues and EBITDA of $45 million and $21 million, respectively. In our article "Atlantic Broadband Finance LLC ?BB-? Corporate Credit Rating Affirmed on Improved Credit Metrics; Outlook Stable," we stated that we expected the company

...NEW YORK (Standard & Poor's) June 8, 2015--Standard & Poor's Ratings Services said today that there is no immediate impact to its '##-' corporate credit rating or stable outlook on Quincy, Mass.-based broadband cable provider Atlantic Broadband Finance LLC (ABB) following the company's announcement today that it plans to acquire substantially all of the assets of MetroCast Connecticut for $200 million. The acquired network passes 70,000 homes in eastern Connecticut and serves around 23,000 video subscribers, 22,000 Internet customers, and 8,000 phone customers generating expected revenues and EBITDA of $45 million and $21 million, respectively. In our article "Atlantic Broadband Finance LLC `##-` Corporate Credit Rating Affirmed on Improved Credit Metrics; Outlook Stable," we stated that we expected the company could pursue acquisitions, which it would likely finance with additional debt. Today's announcement is in line with our expectations and already incorporated in the current rating....

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