Fitch: CCO Holdings notes BB-

Fitch Ratings has assigned a BB- rating to CCO Holdings, LLC’s proposed issuance of $1 billion of senior unsecured notes due 2024.

The ratings also were placed on Positive Watch.

The proceeds will be used to repurchase or redeem a portion of the company’s outstanding $600 million of 7% senior notes due 2019 and $750 million of 7 3/8% senior notes due 2020 and pay related fees and expenses.

The proceeds will be used to repurchase or redeem a portion of the company’s notes, pay related fees and expenses and for general corporate purposes, Fitch said.

Additional uses could include funding a portion of potential incremental cash needs related to Charter Communications, Inc.’s previously announced merger transaction with Time Warner Cable, Inc., the agency explained.

Fitch said it views the recent company transactions positively and believes they will strengthen Charter’s overall credit profile.

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