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Prospect News home > News index > List of issuers C > Headlines for Cablevision Systems Corp. (CSC Holdings) > News item |
Fitch: Cablevision notes B-
Fitch Ratings said it has assigned a B- rating to Cablevision System Corp.'s proposed $500 million issuance of senior unsecured notes due 2022.
Proceeds generated from the issuance are expected to be invested in CSC Holdings LLC to fund the $400 million cash tender offer for CSC's 8Ω% senior notes due 2014 and 2015, the agency said.
Additionally, Fitch said it expects the proceeds will also be used to repay $100 million of CSC's term loan B-2.
The agency said that it believes that Cablevision has sufficient capacity within the current ratings to accommodate management's decision to increase capital expenditures and to refrain from increasing prices during 2012.
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