Fitch affirms Cablevision

Fitch Ratings said it affirmed the B+ issuer default rating assigned to Cablevision Systems Corp. and its wholly owned subsidiary CSC Holdings, Inc. and has revised its outlook to stable from negative.

In addition, Fitch said it has affirmed specific issue ratings and recovery ratings assigned to CVC and CSC as outlined below.

Fitch said its rating action was precipitated by a series of acquisitions, investments and financing transactions announced by CVC including the acquisition of Sundance Channel LLC, acquiring a 97% interest in Newsday LLC and incremental capital investments related to the construction of a wireless data network and the renovation of Madison Square Garden.

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