...NEW YORK (S&P Global Ratings) July 24, 2017--S&P Global Ratings today assigned its '###' issue-level rating to Cox Communications Inc.'s (CCI's) proposed senior notes due 2024, 2027, and 2047 (amounts to be determined). CCI is an Atlanta-based cable company and wholly owned subsidiary of diversified media, cable, and automotive service provider Cox Enterprises Inc. (CEI). We expect CCI to use proceeds from the sale of the notes, along with commercial paper borrowings, to tender for the company's 9.38% notes due 2019, the 6.25% notes due 2018, and the 6.85% notes due 2018. We also expect the company will tender for some of its longer-dated, higher coupon notes. As a result, we do not expect the transaction to materially affect key credit measures, including adjusted debt to EBITDA, which we expect will be in the mid- to high-2x area by year-end 2017. We also expect free operating cash flow to debt to be in the 15% to 20% area in 2017. Our '###' corporate credit rating and stable outlook...
