NEW YORK (Standard&Poor's) June 17, 2015--Standard&Poor's Rating Services today assigned its 'BBB' issue-level rating to Cox Enterprises Inc.'s (CEI) $1.85 billion senior unsecured term loan due 2017. The proceeds from the transaction will be used to finance part of the acquisition of Dealertrack Technologies Inc. CEI announced on June 15, 2015, that it had entered into a definitive agreement to acquire Dealertrack Technologies Inc. for $4.65 billion through CEI's subsidiary, Cox Automotive. The 'BBB' corporate credit rating on Atlanta-based diversified media and cable company CEI is unchanged, and the outlook remains negative. Our outlook reflects our view that pro forma leverage of around 3.3x is high for the rating level and incorporates our uncertainty about the
