Fitch lifts Cox

Fitch Ratings said it upgraded Cox Enterprises, Inc. and its subsidiaries Cox Communications, Inc. and Cox Radio, Inc.'s issuer default and senior unsecured ratings to BBB from BBB-, and their commercial paper ratings to F2 from F3.

The outlook is stable.

Ratings are supported by the company's business diversification, conservative fiscal policies, stability of operating businesses and growth prospects of its cable and auto trader segments, the agency said.

Concerns include secular issues at the company's newspaper segment, the entrance of the regional bell operating companies into the cable TV business, the potential impact of disruptive technologies in the television and radio industries, exposure to the auto industry and cyclical pressure at various business units due to the weakening macro-economic environment, Fitch said.

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