S&P trims Altice view to negative

S&P said it revised its outlook on Altice NV and its rated subsidiaries Altice International Sarl and Altice Luxembourg SA to negative from stable.

At the same time, S&P affirmed its B+ long-term corporate credit ratings on Altice NV and its subsidiaries, as well as all related issue ratings.

“The outlook revision follows the downward revision by management of its EBITDA growth expectation for 2017 to about 6% organically at group level from high-single digits, primarily due to weaker-than-expected operations in France – where the group generates about 40% of its consolidated EBITDA – which reportedly stem from management and operational setbacks,” S&P said in a news release.

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