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| Prospect News home > News index > List of issuers C > Headlines for Charter Communications, Inc. > News item |
S&P rates Charter notes BB-
Standard & Poor's said it assigned BB- ratings to an aggregate $1 billion of senior unsecured notes to be issued by CCO Holdings LLC and CCO Holdings Capital Corp.
The recovery rating on this debt is 3, indicating 50% to 70% expected default recovery.
The notes will consist of a $500 million tranche due 2021 and a $500 million tranche due 2023.
The co-issuers are subsidiaries of Charter Communications Inc.
The ratings on Charter and subsidiaries, including the BB- corporate credit rating, are not affected by the transaction.
The outlook remains stable.
Charter has agreed to purchase Bresnan Broadband Holdings LLC from Cablevision Systems Corp. for $1.625 billion, which is expected to close in the third quarter.
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