Home Credit Ratings and Research S&P Global Ratings’ Credit Research Cogeco US Finance, LLC

Research Update: Atlantic Broadband Finance LLC Corporate Credit Rating Raised To 'B+'; Outlook Stable

Published Apr 02, 2009

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Abstract:

On April 2, 2009, Standard&Poor's Ratings Services raised its ratings on Quincy, Mass.-based cable TV provider Atlantic Broadband Finance LLC, including the corporate credit rating to 'B+' from 'B'. At the same time, we removed the ratings from CreditWatch, where they were placed with positive implications on Feb. 26, 2009, pending release of the company's fourth-quarter results. The outlook is stable. The upgrade is due to the company's improved financial profile as adjusted leveraged has declined to 6.1x debt to latest-12-month EBITDA, as of Dec. 31, 2008, and by our expectations, the company will generate meaningful free cash flow in 2009. About $608 million of debt is affected by this action. In addition, we are raising the issue-level

Report Type:

Research Update

Ticker

239207Z

Issuer

Cogeco US Finance, LLC

Sector

Global Issuers

Country

United States

Region

United States

Format:

PDF

Atlantic Broadband Finance LLC – 2009/04/07 – US$ 500.00

Summary: Atlantic Broadband Finance LLC – 2009/04/08 – US$ 225.00

Atlantic Broadband New Term B, Revolver Rated 'BB-'; 'B+' Corporate Credit Rating Affirmed – 2009/05/28 – US$ 150.00

Research Update: Atlantic Broadband 'B+' Corp. Credit Rating Affirmed; New Term B, Revolver Rated 'BB-'; Existing Debt Raised To 'BB-' – 2009/05/28 – US$ 225.00

Summary: Atlantic Broadband Finance LLC – 2009/10/06 – US$ 225.00

Atlantic Broadband Finance LLC Upgraded To 'B+'; Outlook Stable – 2009/04/02 – US$ 150.00

Atlantic Broadband Finance LLC 'B' Corporate Credit Rating On CreditWatch Positive – 2009/02/26 – US$ 150.00

Research Update: Atlantic Broadband Finance LLC 'B' Corporate Credit Rating On Watch Positive – 2009/02/26 – US$ 225.00

Summary: Atlantic Broadband Finance LLC – 2009/02/18 – US$ 225.00

Atlantic Broadband Finance LLC – 2009/02/17 – US$ 500.00

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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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MLA:	S&P Global Ratings’ Credit Research. "Research Update: Atlantic Broadband Finance LLC Corporate Credit Rating Raised To 'B+'; Outlook Stable" Apr 02, 2009. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Atlantic-Broadband-Finance-LLC-Corporate-Credit-Rating-Raised-To-B-Outlook-Stable-713688>

APA:	S&P Global Ratings’ Credit Research. (). Research Update: Atlantic Broadband Finance LLC Corporate Credit Rating Raised To 'B+'; Outlook Stable Apr 02, 2009. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Atlantic-Broadband-Finance-LLC-Corporate-Credit-Rating-Raised-To-B-Outlook-Stable-713688>

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