Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for CCO Holdings Capital Corp. > News item |
S&P rates CCO Holdings notes BB+
S&P said it assigned its BB+ issue-level rating and 4 recovery rating to CCO Holdings LLC's and CCO Holdings Capital Corp.'s proposed $1 billion senior unsecured notes due 2027.
The 4 recovery rating indicates an expectation for average recovery (30%-50%; lower half of the range) of principal for noteholders in the event of a payment default.
The issuers are subsidiaries of Charter Communications Inc.
Charter intends to use the proceeds to repurchase its outstanding 6 5/8% senior notes due 2022, to pay related fees and expenses and for general corporate purposes.
The BB+ corporate credit is unchanged as the agency continues to expect leverage to remain between 4 times and 4.5 times for the foreseeable future.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.