Cox Communications Inc.'s Proposed Unsecured Notes Rated 'BBB' - S&P Global Ratings’ Credit Research

Cox Communications Inc.'s Proposed Unsecured Notes Rated 'BBB'

Cox Communications Inc.'s Proposed Unsecured Notes Rated 'BBB' - S&P Global Ratings’ Credit Research
Cox Communications Inc.'s Proposed Unsecured Notes Rated 'BBB'
Published May 18, 2021
3 pages (1251 words) — Published May 18, 2021
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) May 18, 2021--S&P Global Ratings today assigned its 'BBB' issue-level rating to Cox Communications Inc.'s proposed unsecured notes due in 2031 and 2051, in line with the issuer credit rating on parent Cox Enterprises Inc. because the debt ranks equally with other debt. The company will use proceeds primarily for debt repayment. Our 'BBB' issuer credit rating on Cox Enterprises is unaffected by this leverage-neutral transaction. We project that debt to EBITDA will remain around 2.5x in 2021, pro forma for the recently announced Segra acquisition, firmly within our 2.25x-3.25x range for the 'BBB' rating. General Criteria: Group Rating Methodology, July 1, 2019 Criteria Corporates General: Corporate Methodology: Ratios And Adjustments, April 1,

  
Brief Excerpt:

...May 18, 2021 NEW YORK (S&P Global Ratings) May 18, 2021--S&P Global Ratings today assigned its '###' issue-level rating to Cox Communications Inc.'s proposed unsecured notes due in 2031 and 2051, in line with the issuer credit rating on parent Cox Enterprises Inc. because the debt ranks equally with other debt. The company will use proceeds primarily for debt repayment. Our '###' issuer credit rating on Cox Enterprises is unaffected by this leverage-neutral transaction. We project that debt to EBITDA will remain around 2.5x in 2021, pro forma for the recently announced Segra acquisition, firmly within our 2.25x-3.25x range for the '###' rating....

  
Report Type:

Ratings Action

Ticker
COX
Issuer
Cox Communications Inc.
Sector
Global Issuers, Structured Finance
Country
United States
Region
United States
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Cox Communications Inc.'s Proposed Unsecured Notes Rated 'BBB'" May 18, 2021. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Cox-Communications-Inc-s-Proposed-Unsecured-Notes-Rated-BBB-2649572>
  
APA:
S&P Global Ratings’ Credit Research. (). Cox Communications Inc.'s Proposed Unsecured Notes Rated 'BBB' May 18, 2021. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Cox-Communications-Inc-s-Proposed-Unsecured-Notes-Rated-BBB-2649572>
  
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