Fitch gives Cablevision B+ issuer default

Fitch Ratings said it assigned Cablevision SA's long-term foreign and local currency issuer default ratings of B+.

Fitch said it has also assigned a B+ rating to the senior unsecured notes and a recovery rating of RR4, which indicates average recovery prospects in the event of default.

The outlook is stable.

According to the agency, Cablevision's ratings are supported by its strong business position, sound cash generation, moderate leverage and operating margins consistent with industry averages.

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