S&P might lower Altice

S&P said it placed the B+ long-term corporate credit ratings on Altice NV and its rated subsidiaries, Altice International Sarl, Altice Luxembourg SA and SFR Group SA, on CreditWatch with negative implications.

The agency also placed on CreditWatch negative all related issue ratings.

S&P said the CreditWatch placement follows the company's recent announcement that it plans to spin off its 67.2% interest in Altice USA through a distribution in kind to Altice NV's shareholders.

“We believe that a smaller Altice NV, which will be more exposed to the ongoing challenges faced in the French market, may not be able to cut leverage in line with our 2017 base-case forecast,” the agency said in a news release.

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