Moody's rates Cablevision notes Ba2, B2

Moody's Investors Service said it confirmed Cablevision Systems Corp.'s B1 corporate family rating at B1, along with its probability of default rating at B1-PD.

Moody's confirmed also the company's instrument ratings, including its Ba2 senior secured bank credit facility, Ba2 senior unsecured guaranteed notes and B2 senior unsecured notes.

This debt is held by CSC Holdings, LLC.

The agency also affirmed the B3 rating on Cablevision Systems' senior unsecured notes.

All of these ratings were under review for upgrade.

Moody's also assigned Ba2 ratings to the new senior unsecured guaranteed $1.1 billion 5 3/8% notes due 2023 and $1.5 billion 5½% notes due 2026.

The agency also assigned B2 ratings to the new senior unsecured $1.25 billion 5 1/8% notes due 2021, $1.05 billion 7½% notes due 2028 and $620 million 7¾% notes due 2025 issued by CSC Holdings.

The agency previously assigned a rating of Ba2 rating to CSC Holdings' new senior secured credit facility, which includes a $1.275 billion senior secured term loan due 2026.

The speculative grade liquidity rating was changed to SGL-1 from SGL-2.

The outlook on Cablevision is stable.

Moody's said all of the ratings at Cequel Communications Holdings I, LLC and Altice US Finance I Corp. will be withdrawn, including its B2 corporate family rating, B2-PD probability of default rating, Ba3 senior secured bank credit facility rating, Ba3 senior secured notes rating and Caa1 senior unsecured notes rating.

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