Fitch rates Charter notes BBB-

Fitch Ratings said it assigned a BBB- with recovery rating of RR1 rating to Charter Communications Operating, LLC's proposed benchmark-sized issuance of senior secured notes.

Charter Communications Operating is an indirect wholly owned subsidiary of Charter Communications, Inc.

Charter Communications Operating's long-term issuer default rating is currently BB+ with a stable outlook.

The proceeds will be used for general corporate purposes, including potential buybacks of class A common stock of Charter or common units of Charter Communications Holdings, LLC.

Following the completion of a merger with Time Warner Cable, Inc. and acquisition of Bright House Networks, Charter is the third largest multichannel video programming distributor in the United States, Fitch said.

The agency said it continues to view the transactions positively and believes they strengthen Charter's overall credit profile.

The ratings will depend on Charter's ability to continue managing the simultaneous integration of the transactions and limit disruption to its overall operations, Fitch noted.

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