NEW YORK (S&P Global) July 7, 2016—S&P Global Ratings said today that its ratings on Atlanta-based diversified media and cable company Cox Enterprises Inc. (CEI), including the 'BBB' corporate credit rating, are not affected by the announcement that it agreed to make a strategic investment through its cable subsidiary Cox Communications Inc. (CCI) in privately-held fiber provider Unite Power Networks (UPN). We believe the proposed investment should offer some business benefits for CCI given UPN's long-term contracts with schools, business customers, and wireless carriers in less competitive and largely underserved rural markets that are complementary to CCI's existing footprint. Moreover, it will enable CCI to expand its business services footprint and densify its network. Terms of the transaction were not
