NEW YORK (Standard&Poor's CreditWire) April 27, 2000--Standard&Poor's today affirmed its triple-'B'-plus corporate credit rating for Cox Enterprises Inc. (CEI) and units Cox Communications Inc. (CCI) and Cox Radio Inc. (CXR). The outlook is negative. The affirmations weigh CCI's recent announcement of a $500 million share repurchase plan, which came closely after acquisition announcements by the auto auction area and by CXR, totaling $1.4 billion, and the completion of very sizable cable TV acquisitions by CCI. The announcement of the auto auction deal in January 2000 prompted the revision of the outlook to negative. Although flexibility continues to be minimal for share repurchases, the affirmation reflects CCI's progress in monetizing nonstrategic investments in Sprint PCS and Flextech
