Fitch affirms Comcast

Fitch Ratings said it affirmed the BBB rating on the senior unsecured debt of Comcast Corp. and its subsidiaries, including Comcast Cable Communications Holdings, Inc., Comcast Cable Communications, LLC, Comcast Cable Holdings, LLC, Comcast MO Group, Inc. and Comcast MO of Delaware, LLC.

Additionally, Fitch affirmed the BBB- rating on the senior subordinated debentures of Comcast Holdings Corp. and the BB+ rating of the 9.65% TCI TOPRS.

Fitch also affirmed the F2 short-term rating on Comcast Corp.'s commercial paper program. The outlook is positive.

Fitch said its rating action follows Comcast's announcement that the company, along with subsidiaries of Time Warner Cable, Inc. and Adelphia Communications Corp., have reached an agreement in principal for the joint purchase of Adelphia's assets.

Fitch said it believes that the transactions, as currently structured, are positive for Comcast's credit profile and that Comcast's strong track record of integrating acquired businesses and maximizing operational synergies, as demonstrated by the AT&T Broadband acquisition, will largely mitigate the operating risks associated with the acquired cable systems.

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