NEW YORK (Standard&Poor's) May 20, 2003--Standard&Poor's Ratings Services said today that it assigned its 'BBB' rating to Cox Communications Inc.'s (CCI) shelf drawdown of $600 million 4.625% senior notes due 2013. Proceeds will be used to finance the cash tender offer for the $1.55 billion face amount of CCI's PRIZES due 2029 and PHONES due 2030. These securities are exchangeable into shares of Sprint PCS Group common stock. All ratings on CCI, which is analyzed on a consolidated basis with its parent Cox Enterprises Inc. (CEI), are affirmed. The outlook is stable. "Repurchasing the PRIZES and PHONES will modestly boost CEI's consolidated leverage," said Standard&Poor's credit analyst Eric Geil. "At the time of issuance,
