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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+
S&P said it assigned a BB+ issue-level rating and 4 recovery rating to CCO Holdings LLC's and CCO Holdings Capital Corp.'s proposed $1.5 billion senior unsecured notes due 2028.
The 4 recovery rating indicates an expectation for average recovery (30%-50%; rounded estimate: 35%) 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 pay related fees and expenses and for general corporate purposes including share repurchases.
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.
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