On Nov. 15, 2007, Standard&Poor's Ratings Services affirmed its 'B+' corporate credit rating on U.K.-based telecommunications provider Virgin Media Inc. (VMI) and related entities. The ratings were also removed from CreditWatch with negative implications where they were placed on July 3, 2007. The outlook is stable. The affirmation and CreditWatch resolution follows the company's announcement of third-quarter results that are in line with our expectations, as well as the reduced probability of a near-term purchase of VMI and the likely increase in leverage that such a transaction would entail. The current weak credit market conditions mean that support for the purchase of an already heavily indebted entity, by a private equity or trade buyer, is limited. VMI is
