Kroll Bond Rating Agency Assigns Ratings to Time Warner Cable Inc.

Kroll Bond Rating Agency (KBRA) assigns issuer and senior unsecured debt ratings of BBB to Time Warner Cable Inc. (“TWC”). TWC is among the largest providers of video, high-speed data, and voice services in the U.S. The outlook on the ratings is stable.

The ratings are based upon TWC’s financial condition and reflect its franchise strength, offset by the growing competitive forces in the industry, which are resulting in: 1) slow organic revenue growth due to an eroding residential video subscriber base; 2) increasing video programming costs; and, 3) substantial capital investments to enhance the network in order to provide a high quality customer experience.

KBRA views the announced merger of Comcast and TWC as a credit positive, although the effect of the business combination was not factored into this rating analysis.

The ratings employ KBRA’s General Corporate Rating Methodology, published on November 15, 2013.

The rating report can be found here: www.krollbondratings.com/show_report/1985

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About Kroll Bond Rating Agency

KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).