Altice International, Altice France and Allied Universal term loans dip with downgrades

By Sara Rosenberg

New York, June 15 – Altice International and Altice France saw their term loans head lower in the secondary market on Thursday as both companies received a downgrade in ratings from Moody’s Investors Service, and Allied Universal’s term loan was softer with downgrade news as well.

Altice International’s term loan fell to 94¾ bid, 95¾ offered on Thursday from 95½ bid, 96½ offered on Wednesday as Moody’s cut the company’s corporate family and senior secured debt ratings to B3 from B2, and senior unsecured rating to Caa2 from Caa1, according to a market source. The outlook was changed to stable from negative.

Meanwhile, in the primary market, Helix Gen Funding LLC and Cyanco Intermediate 2 Corp. released price talk on their term loans in connection with their lender calls.

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