Adelphia’s Rating Downgraded by S

Adelphia Communications Corp. junk credit rating was cut by Standard & Poor’s. It lowered the rating on the cable television company’s senior unsecured debt to D from CCC-minus, S&P; said.

The downgrade follows Adelphia’s missed interest payment on its $500-million 9.75% senior unsecured note. S&P; also lowered its ratings on other unsecured debt to C from CC. The ratings on the company’s secured bank loans at its operating subsidiaries remained unchanged at CCC.