S&P: Cox ratings unhurt by hurricane

NEW YORK, Sept. 2 (UPI) -- Standard & Poor's said Friday ratings for Cox Communications and Cox Enterprises have been unaffected by the hurricane.

The New York-based credit-rating agency said in a news release that despite the damage caused by Hurricane Katrina on the communication group's network, "the affected operations represent a low-single-digit percentage (of the company's) revenue."

S&P pointed out that much of the losses to its networks should be covered by insurance, thus minimizing the impact of the hurricane damage on its bottom line.

As a result, the agency is keeping its ratings for the two companies, with both Cox Communications and Cox Enterprises rate as BBB minus.