Bulletin: Cable One's Leverage Will Remain Below The Downgrade Trigger At The Current Rating Following Its Acquisition Of Hargray - S&P Global Ratings’ Credit Research

Bulletin: Cable One's Leverage Will Remain Below The Downgrade Trigger At The Current Rating Following Its Acquisition Of Hargray

Bulletin: Cable One's Leverage Will Remain Below The Downgrade Trigger At The Current Rating Following Its Acquisition Of Hargray - S&P Global Ratings’ Credit Research
Bulletin: Cable One's Leverage Will Remain Below The Downgrade Trigger At The Current Rating Following Its Acquisition Of Hargray
Published Feb 16, 2021
2 pages (1251 words) — Published Feb 16, 2021
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About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) Feb. 16, 2021--S&P Global Ratings today said that despite the increase in Phoenix-based incumbent cable provider Cable One Inc.'s (BB/Positive/--) leverage to fund its acquisition of the remaining 85% stake in Hargray Holdings LLC, we believe it still has good prospects to maintain adjusted debt to EBITDA in the low- to mid-3x area in 2021, which is in our expected range for the current rating. The transaction implies a $2.2 billion total enterprise value, which the company will finance with a combination of cash on hand, revolving credit facility capacity, proceeds from new debt, and equity capital, although it did not disclose the specific financing terms. Cable One has received $900 million of definitive bridge

  
Report Type:

Bulletin

Issuer
Cable One, Inc.
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Cable One's Leverage Will Remain Below The Downgrade Trigger At The Current Rating Following Its Acquisition Of Hargray" Feb 16, 2021. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Cable-One-s-Leverage-Will-Remain-Below-The-Downgrade-Trigger-At-The-Current-Rating-Following-Its-Acquisition-Of-Hargray-2595798>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Cable One's Leverage Will Remain Below The Downgrade Trigger At The Current Rating Following Its Acquisition Of Hargray Feb 16, 2021. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Cable-One-s-Leverage-Will-Remain-Below-The-Downgrade-Trigger-At-The-Current-Rating-Following-Its-Acquisition-Of-Hargray-2595798>
  
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