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Fitch affirms Insight Communications
Fitch Ratings said it affirmed the B+ issuer default rating and the stable rating outlook assigned to Insight Communications Co., Inc. (ICCI).
Specifically, Fitch said it affirmed the BB+ senior secured rating and R1 recovery rating assigned to Insight Midwest Holdings, LLC's senior secured credit facility, and the B+ senior unsecured debt rating and R4 recovery rating assigned to the senior unsecured notes issued by Insight Midwest, LP.
Also, Fitch noted it affirmed the CCC+ senior unsecured rating and R6 recovery rating assigned to ICCI's senior discount notes.
Fitch said it believes that there is a sizeable amount of event risk surrounding ICCI's credit profile related to the pending privatization transaction and the long-term existence of Insight Midwest, LP, ICCI's partnership with Comcast Corp., that could place downward pressure on ICCI's ratings.
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