NEW YORK (Standard&Poor's CreditWire) Aug. 3, 1999--Standard&Poor's today lowered its rating on the senior debt of Cox Enterprises Inc. (CEI), Cox Communications, Inc. (CCI), and Cox Radio, Inc. (CXR) to triple-'B'-plus from single-'A'-minus. The rating on CCI's existing shelf debt was lowered to preliminary triple-'B'-plus from preliminary single-'A'-minus. The long-term corporate credit ratings for CEI and CCI also were lowered to triple-'B'-plus from single-'A'-minus. The downgrades are based on the increase in financial risk resulting from several cable TV acquisitions recently announced by CCI and, importantly, Standard&Poor's consolidated analysis of CEI, CCI, and CXR. The ratings are removed from CreditWatch, where they were placed May 12, 1999. The 'A-2' short-term corporate credit and commercial
