Fitch affirms CSC Holdings

Fitch Ratings said it affirmed and removed from Rating Watch negative the ratings for CSC Holdings, Inc., including the company's issuer default rating at B+, senior secured bank facility at BB/RR1, senior unsecured debt at BB-/RR3 and senior subordinated debt at B/RR5.

The outlook is negative.

Fitch said its rating action follows CSC's announcement that it has concluded its debt covenant review and identified additional covenant compliance issued under the company's bank agreement related to monetization transactions and interest rate swaps.

CSC indicates that it has received the necessary waivers from the lenders party to the bank agreement and that the company and its subsidiaries are in compliance with all of their debt agreements and instruments, the agency added.

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