U.S. cable service provider Cable One Inc. plans to issue a $300 million senior secured term loan A and $350 million term loan B to fund the $735 million acquisition of Telecommunications Management LLC (D/B/A NewWave Communications). We are affirming our 'BB' corporate credit rating, and all other ratings, on Cable One. We are also assigning a 'BBB-' issue-level rating and '1' recovery rating to the company's proposed $300 million term loan A due in 2022 and $350 million term loan B due in 2024. The stable outlook reflects our expectation that adjusted leverage will be in the mid-2x area by fiscal year-end 2017 due to growing margins partially offset by additional acquisitions and shareholder-friendly initiatives, in line with the
