NEW YORK (Standard&Poor's CreditWire) Aug. 6, 1999--Standard&Poor's today raised its rating on the proposed offering of about $650 million of FELINE PRIDES preferred securities to be issued by Cox Communications Inc. (CCI) and Cox Trust II, to triple-'B'-plus-r from triple-'B'. The rating revision is based on changes in terms of the securities. Specifically, the final terms do not provide for any deferral of quarterly distributions on the securities, which previously had represented an element of equity support to the debt ratings. The PRIDES do remain mandatorily exchangeable into shares of CCI. Consistent with earlier terms, the PRIDES have an intercompany senior unsecured debt obligation from CCI. The 'r' designation relates to the holders' exposure to a
