Moody’s rates Altice loan Ba3

Moody's Investors Service said it assigned a Ba3 rating to Altice US Finance I Corp.’s, a wholly owned subsidiary of Cequel Communications Holdings I, LLC (doing business as Suddenlink), proposed $1.3 billion term loan B.

Proceeds from the transaction will be used to refinance existing debt in a leverage neutral transaction.

Cequel's B3 corporate family rating, B3-PD probability of default rating and Caa1 senior unsecured rating are unchanged.

The outlook remains positive, reflecting the company's significant progress with cost reduction and leverage improvement.

Moody’s said Cequel’s B3 corporate family rating reflects its high leverage and the parent company's aggressive financial policy. Offsetting these limiting factors are Cequel's stable market position with a strong base of network assets and limited competition within its footprint other than telco DSL.

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