The ratings on Quincy, Mass.-based cable TV provider Atlantic Broadband Finance LLC reflect a highly leveraged financial profile; aggressive competition from direct-to-home (DTH) satellite TV providers for video services and local telephone companies for high-speed data and telephone services; cost disadvantages from small company size; and exposure to the below-average growth potential of the company's western Pennsylvania cluster that accounts for about 60% of consolidated revenues. Tempering factors include the company's second-tier markets, which provide some protection from local telephone companies deploying facilities-based video offerings in the intermediate term; its position as the dominant provider of pay-TV services in its markets; and growth potential from advanced services, including high-speed data, digital video services, and cable telephony. Atlantic's leverage remains high
