New York, December 01, 2014 -- Moody's Investors Service assigned a Baa2 rating to Cox Communication, Inc.'s (CCI) proposed benchmark size issue of senior unsecured notes. The new notes will be pari passu with the company's existing senior unsecured indebtedness. Proceeds from the sale of the notes will be used for general corporate purposes, which may include the funding of all or a portion of a $1.0 billion dividend to CCI's parent, Cox Enterprises, Inc. ("CEI"--Baa2 senior unsecured rating) and to repay certain of the company's existing indebtedness, including its $400 million 5.45% senior notes due December 2014, $500 million 5.5% senior notes due October 2015 and $100 million 7.25% senior notes due November 2015. Since a portion of the proceeds from the debt offering will be used to repay near term debt maturities, Moody's will exclude such prefunded amounts in its calculation of adjusted debt and leverage. The rating outlook for CCI is stable.

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