SAN FRANCISCO (Standard&Poor's) Aug. 14, 2008--Standard&Poor's Rating Services said today it revised its outlook on Atlanta-based diversified media company Cox Enterprises Inc. (CEI) and its subsidiaries to stable from positive. We also raised the issue rating on approximately $3.5 billion of unsecured debt at the CEI level to `BBB-' from `BB+'. We have affirmed all other ratings on CEI and subsidiaries, including the 'BBB-' corporate credit rating. Total debt outstanding was approximately $13.5 billion as of March 31, 2008. "Despite the company's recent announcement that it would sell a portion of its newspaper portfolio, the outlook revision reflects our assessment that further improvement in financial parameters needed to support a higher rating will likely be deferred,"
