S&P: Mediacom Broadband loan BB-

Standard & Poor's said it assigned its BB- issue-level rating and 2 recovery rating to the proposed $450 million term loan H due 2021 issued by Mediacom Broadband Group.

S&P said it expects proceeds, along with modest revolver borrowings, will be used to repay a portion of the company's term loan F under its existing bank credit facility due 2017.

As a result, the agency expects adjusted leverage to remain unchanged, at about 5.8 times as of March 31, 2013, which under its base-case scenario, S&P believes could decline to the mid-5 times area in 2013.

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