S&P Lowers Ratings on Time Warner Cable, Time Warner

Standard & Poor’s Ratings Services on Friday cut its ratings on Time Warner Cable Inc. (TWC) and its former parent, Time Warner Inc. (TWX), after the two companies separated. S&P lowered Time Warner Cable’s ratings to two steps above junk territory, saying the separation increased its debt level. The rating agency downgraded Time Warner to the same level because of the loss of its “most predictable source of growth.”

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