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Stock impact report

Tier-2 Troubles: WOW! Gets Downgraded by S&P Again [Yahoo! Finance]

Cable One, Inc. (CABO) 
Last cable one, inc. earnings: 2/27 04:15 pm Check Earnings Report
US:NYSE Investor Relations: ir.cableone.net
Company Research Source: Yahoo! Finance
A little over a week after downgrading Cable One for the second time this year, S&B Global revised WideOpenWest (WOW!) from “B” to “B-minus.” “WOW! has limited liquidity and has exhausted its revolving credit facility,” the credit rating agency wrote in a note published late last week. “As of June 30, 2024, [WOW!] had about $21 million of cash on balance sheet but no availability under its $250 million revolving credit facility due December 2026,” S&P added. “It recorded nearly breakeven free operating cash flow (FOCF) during the second quarter of 2024, primarily due to a sizeable pull back in its expansion capex spend, which will hurt WOW!'s longer-term competitive positioning, in our view.” The move followed another downgrade by S&P for WOW! from “B-plus” to “B” back in May. Also in May, WOW! received a cash buyout offer from DigitalBridge Investments LLC and “various Crestview entities,” with the private-equity interests proposing to purchase all outstanding WOW! shares no Show less Read more
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