On April 14, 2003, Standard & Poor's Ratings Services assigned its 'BBB' rating to media company Cox Enterprises Inc.'s (CEI) $500 million senior unsecured notes due 2008. The notes will be issued under Rule 144A, but will not be registered. Proceeds will be used for debt repayment. The ratings on Atlanta, Ga.-based CEI and its subsidiaries are affirmed. The ratings on CEI and its subsidiaries are supported by the company's well-diversified portfolio of media businesses, which includes attractive positions in cable TV, radio and TV broadcasting, newspaper publishing, and automobile auctions. These units have good operating margins, solid positions in their respective industries, and significant asset value. The cable TV and auto auction businesses serve as a balance to those
