Minneapolis-based incumbent cable provider Midcontinent Communications is refinancing its existing debt with a new $475 million credit facility and $250 million of senior notes. We are assigning a 'BB-' issue-level rating and '2' recovery rating to the new credit facility. We are also assigning a 'B-' issue-level rating and '6' recovery rating to the new notes. We are affirming our 'B+' corporate credit rating on Midcontinent. The stable outlook reflects our expectation for solid growth in advanced video and high speed data services and modest near-term leverage improvement, although financial policy considerations, particularly related to the buy/sell provision with Comcast Corp., constrain upgrade prospects. NEW YORK (Standard&Poor's) July 16, 2013--Standard&Poor's Ratings Services today assigned a 'BB-'
