Moody's assigns CCO Holdings notes B1

Moody's Investors Service said it assigned a B1 rating to Charter Communications, Inc.'s senior unsecured notes due 2030, issued at CCO Holdings, LLC and CCO Holdings Capital Corp. The proceeds will be used to repay debt, fund potential share repurchases, pay related transaction fees and expenses and for general corporate purposes. All existing ratings, including the Ba2 corporate family rating and all instrument ratings, are unaffected by the issuance and refinancing. The outlook is stable.

The notes will be general unsecured obligations of the issuer and will not be guaranteed.

Moody's said it views the transaction as credit neutral. “We believe any incremental leverage (net of repayment) will not materially change the credit profile. Additionally, we don't expect the transaction (regardless of use) to materially change the proportional mix of secured and unsecured debt, or the resultant creditor claim priorities in the capital structure,” the agency said in a press release.

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