U.K. cable operator Virgin Media Inc. has reported solid 2010 annual results and we anticipate further gradual reduction in debt leverage through 2011. We are raising our long-term corporate credit rating on the company to 'BB' from 'BB-' and assigning a 'BBB-' issue rating to its proposed secured bond. The stable outlook reflects our expectation that VMI is likely to continue to post steady EBITDA growth and generate meaningful free operating cash flow, in turn establishing its adjusted leverage below 4.0x in the short term. PARIS (Standard&Poor's) Feb. 23, 2011--Standard&Poor's Ratings Services today said it raised its long-term corporate credit rating on U.K. cable operator Virgin Media Inc. (VMI) to 'BB' from 'BB-'. The outlook is
