S&P assigns B+ to Altice USA

S&P said it assigned a B+ corporate credit rating to Altice USA Inc.

The outlook is stable.

S&P said the rating reflects high debt leverage, the capital-intensive nature of the business, more fiber-based competition than most incumbent cable providers, a degree of execution risk associated with cost-cutting initiatives and substitution risk from evolving technology.

These factors are partly offset by high barriers to entry, good revenue visibility provided by a largely subscription-based model, participation in well-clustered and demographically favorable markets and significantly improving profitability, the agency added.

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