We anticipate sustained EBITDA growth and further gradual reduction in debt leverage over the next 12-18 months for U.K. cable operator Virgin Media Inc. (VMI). We are revising our assessment of VMI's financial risk profile to "significant" from "aggressive" under our criteria. We are revising our rating outlook on VMI to positive from stable, and affirming our 'BB' long-term corporate credit rating. We are also assigning the company's proposed unsecured bond our 'BB-' issue rating. The positive outlook reflects the possibility of a one-notch upgrade in the next 12-18 months if free operating cash flow continues to grow and adjusted leverage declines to below 3.5x. On Feb. 28, 2012, Standard&Poor's Ratings Services revised its rating outlook on U.K.
