...- S&P Global Ratings recently completed a sector review and ranking exercise of rated cable operators, reflecting a more favorable view of rural providers and the industry overall given the increasing importance of high-speed internet whereby incumbent cable operators enjoy a sustainable competitive advantage in most markets. - We rank Midcontinent Communications sixth on the list due to its solid operating metrics and favorable programming agreement with Comcast, which is partly offset by the company's above-average competitive overlap. - We are raising all ratings on Midcontinent one notch, including the issuer credit rating to '##' from '##-', based on a more favorable view of the business. - The stable outlook reflects Midcontinent's continued solid operational performance, which should enable it to reduce leverage by 0.4x turn a year on earnings growth of 5%-6% annually. However, potential acquisitions and dividends and the lack of a committed leverage target limit ratings upside over...
