TORONTO (Standard&Poor's) July 19, 2012—Standard&Poor's Ratings Services said today that its ratings and outlook on Montreal-based cable provider Cogeco Cable Inc. (BB+/Stable/--) are unchanged following Cogeco's announcement yesterday that it is acquiring U.S.-based Atlantic Broadband (B+/Stable/--) for US$1.36 billion. Atlantic is the 14th-largest cable television system operator in the U.S., with cable systems in Pennsylvania, Florida, Maryland, Delaware, and South Carolina. The transaction is subject to customary closing conditions and Standard&Poor's expects it to close before the end of the year. We expect the Atlantic purchase to be funded from existing balance-sheet cash, a US$550 million drawdown on the company's bank facilities, and US$660 million of nonrecourse debt at Atlantic. On a pro forma
