NTL credit rating hits rock bottom

NEWS NTL yesterday saw its corporate credit rating hit the lowest point possible as Standard and Poor downgraded the debt-laden company. The cable company now has a D rating down from a triple C minus because of its failure to pay interest on bonds, according to reports in the Financial Times Although NTL has until 1 May to make the payments, Stand and Poor is of the belief this will not be achieved. NTL said on Monday it has the $96m to make the payments but had not done so at the request of some bondholders.