Bulletin: Radiate Holdco LLC Corporate Credit Rating Is Unchanged Following Proposed Acquisition Of WaveDivision By TPG Capital

NEW YORK (S&P Global Ratings) May 24, 2017--S&P Global Ratings said today that its ratings, including the 'B' corporate credit rating, on Delaware-based cable TV operator Radiate Holdco LLC are not immediately affected by the company's announcement that its private equity sponsor TPG Capital has agreed to purchase WaveDivision Holdings LLC in a transaction valued at $2.4 billion, or about 13x EBITDA. We expect that TPG will combine Wave's assets with its existing cable properties that are owned by Radiate Holdco (B/Stable/--), formerly known as RCN Telecom and Grande Communications, creating the sixth-largest cable operator in the country with about 1.7 million revenue generating units. We believe that the acquisition will help to diversify the company's national footprint and is

...NEW YORK (S&P Global Ratings) May 24, 2017--S&P Global Ratings said today that its ratings, including the 'B' corporate credit rating, on Delaware-based cable TV operator Radiate Holdco LLC are not immediately affected by the company's announcement that its private equity sponsor TPG Capital has agreed to purchase WaveDivision Holdings LLC in a transaction valued at $2.4 billion, or about 13x EBITDA. We expect that TPG will combine Wave's assets with its existing cable properties that are owned by Radiate Holdco (B/Stable/--), formerly known as RCN Telecom and Grande Communications, creating the sixth-largest cable operator in the country with about 1.7 million revenue generating units. We believe that the acquisition will help to diversify the company's national footprint and is in line with the company's fiber-based broadband strategy. The acquisition of Wave will add approximately four operational clusters on the West Coast (San Francisco, Seattle, Sacramento, and Portland) to Radiate's...

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