S&P Global Ratings-adjusted leverage for Comcast Corp., pro forma for last year's acquisition of Sky, has continued to decline to about 3x, within the high end of our 2x-3x threshold for the 'A-' rating. We expect leverage will decline further to the low- to mid-2x area over the next two to three years as the company continues to prioritize capital allocation toward strengthening its balance sheet. As a result, we are affirming our 'A-' issuer credit rating on Comcast and revising our outlook to stable from negative. The stable outlook reflects our view that the company remains well positioned for the next few years to handle the secular challenges across all its lines of business. Philadelphia-based global communications and media
