S&P: Time Warner notes BBB

Standard & Poor's said it assigned its BBB issue-level rating to Time Warner Cable Inc.'s new senior unsecured debentures due 2042. The debentures are a drawdown from a universal shelf registration.

Other ratings, including the BBB/A-2 corporate credit rating and the stable outlook, are not affected by the new issuance.

Following the proposed debt issuance, S&P said it expects cash balances to remain high over the near term, with a significant portion to be used to address future debt maturities.

The agency said the ratings continue to reflect Time Warner's strong business risk profile, underpinned by its position as the second-largest U.S. cable operator; solid free operating cash flow generation which S&P expects to be at least in the mid- to upper-$2 billion area in 2012; and a robust, high-bandwidth network.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.