Comcast Corporation reports long-term senior notes totaling over \(\$ 40\) billion in its 2012 10-K. Following are selected ratios from Exhibit 7.6 computed for Comcast Corp. utilizing its 2012 data.

Required This debt is rated "A3" by Moody's, which is an upper medium grade. Examine the ratios provided above. What factors do you believe contribute to Comcast's credit rating being less than stellar?

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EBITA/Average assets EBITA/Interest expense EBITA margin.... Operating margin. (Funds from operations + Interest expense)/Interest expense. Funds from operations/Debt Debt/EBITDA... Debt/Book capitalization ***** 8.57% 5.48 22.10% 13.14% 6.89 36.71% 2.03 29.45%