Business/Finance

Fitch Ratings has affirmed at ‘BBB+’ the issuer default rating and sr unsecured debt ratings for Comcast, which has been assigned a ‘stable’ ratings outlook. “Within the context of escalating competitive pressures, the ratings incorporate [the] expectation that while weaker relative to historical comparisons, the company will continue to generate solid operating metrics, sustainable EBITDA and free cash flow growth,” said Fitch. The effects of competition and a slowing economy, however, “will weigh on Comcast’s operating results during 2008 and 2009,” said Fitch, which holds concerns over the MSO’s ability to grow revenues beyond its core triple-play services and to efficiently manage its cable plant bandwidth to maximize desirable HD content. Shares of Comcast have slipped approx 37% since July. — News Corp has agreed to sell 8 Fox-affiliated TV stations to Oak Hill Capital Partners for $1.1bln. Several analysts believe the move works toward rebuilding the company’s cash reserves following its purchase of Dow Jones. — Related to its acquisition of Andrew Corp first announced in Aug ’06, CommScope has agreed to pay $13.50 in cash and $1.50 in CommScope common stock for each outstanding share of Andrew common stock. The transaction is expected to close on Thurs.