| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers C > Headlines for Charter Communications, Inc. > News item |
S&P gives BB- to Charter notes
Standard & Poor’s said it assigned its BB- issue-level rating and 4 recovery rating to the proposed $1.5 billion principal of senior notes due 2023 and 2025 to be issued by CCO Holdings LLC and CCO Holdings Capital Corp., subsidiaries of Charter Communications Inc.
The 4 recovery rating indicates an expectation for average (30%-50%; lower half of the range) recovery for noteholders in the event of a payment default.
At the same time, S&P placed the BB- issue-level rating on the proposed notes on CreditWatch with positive implications, in line with the existing senior unsecured debt.
Proceeds from the notes, along with potential borrowings under Charter Communications Operating LLC’s revolving credit facility, will be used to repurchase the tendered amount of the company’s 7¼% senior notes due 2017 ($1 billion outstanding) and 8 1/8% notes due 2020 ($700 million outstanding).
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.