S&P rates Altice US Finance loan BB-

S&P said it assigned its BB- issue-level rating and 1 recovery rating to Altice US Finance I Corp.'s proposed $810 million term loan B maturing in January 2025.

The term loan B will be guaranteed by Cequel Communications Holdings II LLC.

Net proceeds will be used to refinance the remaining balance on the company's $810 million term loan B due in 2022.

The 1 recovery rating indicates an expectation for very high (90%-100%) recovery for secured debt holders in the event of a payment default.

S&P said the proposed transaction will not significantly alter the company's credit metrics or recovery prospects; therefore, the B corporate credit rating and stable outlook, as well as all issue-level ratings, on Cequel Communications Holdings I LLC remain unchanged.

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