...October 26, 2020 NEW YORK (S&P Global Ratings) Oct. 26, 2020--S&P Global Ratings today assigned its '##-' issue-level and '5' recovery ratings to Phoenix-based cable TV and internet provider Cable One Inc.'s $500 million senior unsecured notes due 2030. The '5' recovery rating indicates our expectation of modest (10%-30%; rounded estimate: 10%) recovery for lenders in the event of a payment default. We also affirmed our '##+' issue-level rating on Cable One's secured debt following the company's proposed $300 million incremental add-on to its $325 million term loan B-3 due in 2026, the $150 million upsize to its $350 million revolving credit facility due 2024, and the extension of the maturity of the term loan B-3 and revolving credit facility to 2027 and 2025, respectively. The '2' recovery rating indicates our expectation of substantial (70%-90%; rounded estimate: 80%) recovery in the event of a payment default. We expect Cable One to use the proceeds from the upsized term loan and cash...
