Bulletin: Comcast Corp. Ratings And Outlook Are Unaffected By Announced Termination Of Bid To Acquire Time Warner Cable Inc.

NEW YORK (Standard&Poor's) April 24, 2015--Standard&Poor's Ratings Services said today that Philadelphia-based media and technology company Comcast Corp.'s announcement that it will be dropping its $45 billion bid to acquire Time Warner Cable Inc. (TWC) does not affect the 'A-' corporate credit rating and stable outlook on Comcast. The potential merger, originally announced in February 2014, faced significant opposition and regulatory scrutiny over the last 14 months. There will be no additional break-up fee, although Comcast incurred approximately $237 million in transaction-related costs in 2014 associated with the merger and Charter Communications Inc. divestiture transactions. While the merger would have significantly increased Comcast's scale and expanded its addressable market for business services, as we previously stated,

...NEW YORK (Standard & Poor's) April 24, 2015--Standard & Poor's Ratings Services said today that Philadelphia-based media and technology company Comcast Corp.'s announcement that it will be dropping its $45 billion bid to acquire Time Warner Cable Inc. (TWC) does not affect the 'A-' corporate credit rating and stable outlook on Comcast. The potential merger, originally announced in February 2014, faced significant opposition and regulatory scrutiny over the last 14 months. There will be no additional break-up fee, although Comcast incurred approximately $237 million in transaction-related costs in 2014 associated with the merger and Charter Communications Inc. divestiture transactions. While the merger would have significantly increased Comcast's scale and expanded its addressable market for business services, as we previously stated, the transaction would not have changed our "strong" business risk profile assessment on Comcast, which we continue to maintain on a standalone basis. Under...

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