S&P: Comcast still on watch positive

Standard & Poor's said its long-term ratings for Comcast Corp. (including the BBB corporate credit rating) remain on CreditWatch positive.

Also on watch are Comcast's A-2 short-term corporate credit rating, BBB senior unsecured debt rating, BBB- subordinated debt rating and A-2 commercial paper.

S&P said this CreditWatch update follows the company's announcement of a joint transaction with Time Warner Cable Inc. to purchase cable TV system assets from bankrupt cable operator Adelphia Communications Corp.

S&P said it believes that the acquired systems will require nominal incremental capital expenditures for system upgrades.

Comcast's debt-to-EBITDA ratio was about 2.9x at year-end 2004.

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