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S&P revises Comcast outlook to stable on reduced leverage

S&P Global Ratings affirmed its A- issuer credit rating on Comcast Corp. and revised its outlook on the company to stable from negative.

The rating agency said Comcast has reduced its leverage to below 3x and it expects leverage to decline even further as the company continues to prioritize capital allocation toward continued debt reduction.

S&P Global Ratings said although there are concerns that a global recession and Brexit could affect its subsidiaries NBCUniversal Media LLC and Sky Ltd., the rating agency believes that Comcast will have built sufficient leverage headroom thanks to stable U.S. cable operations and ongoing debt repayment.

The stable outlook reflects the rating agency's view that the company remains well positioned for the next few years to handle the secular challenges across all its lines of business.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.