Small scale and low system densities; Mature revenue growth prospects from basic video services; Competitive pressures from satellite TV providers, incumbent phone companies, and cable overbuilders; Dominant provider of pay TV services in its markets; Favorable programming and equipment purchasing agreement with Comcast Corp.; and Solid profitability. Leverage is moderate relative to the rating, at around 3.2x as of March 31, 2014; Potential dissolution of the partnership with Comcast could result in leverage rising above 6.0x; and Free operating cash flow (FOCF) to debt declines to around 8% to 10% in 2014 from 11% in 2013 due to higher capital expenditures. Our outlook on Midcontinent Communications is stable. We believe Midcontinent will benefit from solid growth from advanced video and
