On Nov. 28, 2006, Standard&Poor's Ratings Services assigned its 'BBB-' rating to cable operator Cox Communications Inc.'s (CCI) $600 million senior unsecured notes due 2016 and $400 million senior unsecured notes due 2036. At the same time, we affirmed the 'BBB-' corporate credit rating and all other ratings on privately-held Atlanta, Ga.-based Cox Enterprises Inc. (CEI), which is the parent company of CCI. The outlook is stable. CCI will use the proceeds from these notes, which are being issued under rule 144A without registration rights, to repay outstanding amounts under its revolving credit facility. The ratings on CEI and its subsidiaries reflect the company's diversified portfolio of cable TV systems, auto auctions, and media businesses, which have solid
