TEXT-S&P rates Mediacom Broadband LLC/Mediacom Broadband Corp

Aug 14 - Standard & Poor's Ratings Services said today that it assigned its
'B-' issue-level rating and '6' recovery rating to $300 million of senior notes
to be issued by Mediacom Broadband LLC (B+/Stable/--) and Mediacom Broadband
Corp. The '6' recovery rating indicates our expectations for negligible (0%-10%)
recovery in the event of a payment default. The issuers are subsidiaries of
Middletown, N.Y.-based cable-TV operator Mediacom Communications Corp.
(B+/Stable/--). We expect proceeds will be used to tender for a portion of the
company's existing 8.5% senior notes due 2015. As a result, we expect interest
expense to modestly decline, and consolidated leverage (adjusted for operating
leases and accrued interest) to remain unchanged, at about 5.6x as of June 30,
2012. Over the intermediate term, we believe the company will maintain leverage
below our 7x threshold for the current rating, barring a shift toward a more
aggressive financial policy.

The ratings on Mediacom reflect a "highly leveraged" financial risk profile, a
mature core video business with modest revenue growth prospects,
below-industry-average video, high-speed data (HSD), and telephony
penetration, and competitive pressures on both the video customer base from
direct-to-home satellite-TV providers and HSD customers from telephone
companies. Partly tempering these factors are the company's position as the
leading provider of pay-TV services in its markets and expectations for
limited video competition from the local telephone operators. (For the
complete corporate credit rating rationale, see the summary analysis on
Mediacom, published June 20, 2012, on RatingsDirect.)

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RATINGS LIST

Mediacom Communications Corp.
Corporate Credit Rating B+/Stable/--

New Ratings

Mediacom Broadband LLC
Mediacom Broadband Corp.
Senior Unsecured
$300 mil. senior nts B-
Recovery Rating 6