S&P: Time Warner Telecom on watch

Standard & Poor's said it placed its long-term ratings for Time Warner Telecom Inc. and its related entities on CreditWatch with negative implications, including its B corporate credit and senior secured notes ratings.

The B-2 short-term rating was affirmed.

Other affected ratings include the company's senior unsecured notes at CCC+ and

Time Warner Telecom Holdings Inc.'s B corporate credit rating, B floating-rate second priority secured notes and CCC+ senior unsecured notes.

S&P said the CreditWatch listing follows its heightened concerns about the company's high financial leverage at about 6 times debt to EBITDA and elevated concern about its ultimate debt repayment prospects.

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