On July 3, 2007, Standard&Poor's Ratings Services placed all its ratings, including its 'B+' long-term corporate credit rating, on U.K.-based telecommunications provider Virgin Media Inc. (VMI) and related entities on CreditWatch with negative implications. This follows receipt of a proposal from a private-equity firm to acquire 100% of the company's stock. The CreditWatch placement reflects the confirmation of an equity bid. It also reflects VMI's ongoing strategic review, which includes a possible sale of the company. Despite the fact that no negotiations have been engaged as yet with the bidder, Standard&Poor's believes that there is a reasonable chance that VMI's management could decide to progress take-over discussions. VMI's management has made clear that there is no
