S&P trims Liberty Cablevision of Puerto Rico

Standard & Poor's said it lowered its corporate credit rating on Liberty Cablevision of Puerto Rico LLC to B- from B and lowered the rating on the first-lien debt to B from B+ and on the second-lien term loan to CCC from CCC+.

The outlook is developing.

"The rating actions follow our reassessment of the company's liquidity as 'weak,' based on its very limited EBITDA cushion under its senior leverage financial covenant for the quarter ended March 31, 2013, in the low-single-digit percent area," said S&P credit analyst Catherine Cosentino in a news release.

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