Moody's rates Altice notes Ba2, B2

Moody's Investors Service said it assigned provisional Ba3 corporate family and probability of default ratings to Cool Holding Ltd., an affiliate of Altice Financing SA and HOT Telecommunication Systems Ltd.

Concurrently, Moody's assigned a provisional Ba2 rating to the proposed $700 million equivalent senior secured notes due 2019 to be issued at Altice Financing SA and a provisional B2 rating to the proposed $390 million senior notes due 2020 to be issued at Altice Finco SA.

The outlook is stable.

The corporate family and probability of default ratings were assigned on a provisional basis until successful completion of the proposed transaction whereby Cool is looking to acquire the outstanding 31% minority shareholding in Hot Telecommunication Systems, bringing its holding in the Israeli cable operator to 100%.

Moody's said the rating on the new notes is provisional pending completion of this transaction as well as final and conclusive review by Moody's of the final documentation.

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