S&P rates Communications Corp. loan B

Standard & Poor's said it affirmed its B preliminary corporate credit rating on Communications Corp. of America. The outlook is stable.

At the same time, the agency said it assigned the company's proposed $157.5 million senior secured term loan B due 2018 a preliminary issue-level rating of B, with a preliminary recovery rating of 3, indicating an expectation of meaningful recovery for lenders in the event of a payment default.

The agency said the preliminary B corporate credit rating reflects an expectation that, despite high leverage, the company will be able to maintain adequate liquidity over the intermediate term.

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