Comcast Corp. 'A-' Corporate Credit Rating On CreditWatch Negative On Proposed Acquisition Of Sky PLC

Philadelphia, Pa.-based telecommunications and media company Comcast Corp. announced an all-cash proposal to acquire U.K.-based pan-European pay-TV operator Sky PLC in a transaction valued at $41 billion. We are placing our ratings, including the 'A-' corporate credit rating, on Comcast on CreditWatch with negative implications pending clarity of the transaction. The negative CreditWatch placement reflects the potential for sustained higher leverage. This could be exacerbated by a potential bidding war for Sky which could lead to a higher purchase price which, if Comcast were to win, could weaken credit measures such that they may no longer support our 'A-' corporate credit rating on Comcast. NEW YORK (S&P Global Ratings) Feb. 28, 2018--S&P Global Ratings today placed its ratings, including the

... media company Comcast Corp. announced an all-cash proposal to acquire U.K.-based pan-European pay-TV operator Sky PLC in a transaction valued at $41 billion. + We are placing our ratings, including the 'A-' corporate credit rating, on Comcast on CreditWatch with negative implications pending clarity of the transaction. + The negative CreditWatch placement reflects the potential for sustained higher leverage. This could be exacerbated by a potential bidding war for Sky which could lead to a higher purchase price which, if Comcast were to win, could weaken credit measures such that they may no longer support our 'A-' corporate credit rating on Comcast. NEW YORK (S&P Global Ratings) Feb. 28, 2018--S&P Global Ratings today placed its ratings, including the 'A-' corporate credit rating, on Philadelphia, Pa.-based telecommunications and media company Comcast Corp. on CreditWatch with negative implications. The 'A-2' short-term rating is excluded...

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