Moody's rates Altice loan B1, notes B3

Moody's Investors Service said it assigned a B1 corporate family rating and a B1-PD probability of default rating to Altice VII Sarl.

At the same time, the agency withdrew the B1 corporate family rating and B1- probability of default rating of Cool Holding Ltd.

Moody's also assigned a definitive B1 rating to the dollar-equivalent 1 billion senior secured term loan of Altice Financing SA and a definitive B3 rating to Altice Finco SA's senior notes due 2023. Altice Financing and Altice Finco are finance subsidiaries of Altice VII.

Rating assignments and withdrawals follow the substantial completion of a number of transactions that lead to the creation of the Altice VII group as is configured now and the accession of Altice VII itself as a guarantor for debt at Altice Financing and Altice Finco, Moody's said.

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