S&P rates CCO Holdings notes BB

S&P said it assigned a BB issue-level and 5 recovery ratings to CCO Holdings LLC’s proposed unsecured notes due 2031. The 5 recovery rating indicates S&P’s expectation for modest (10%-30%; rounded estimate: 15%) recovery in a default scenario.

The company plans to use the proceeds for general corporate purposes.

“Our BB+ issuer credit rating on the company’s parent, Charter Communications Inc., is unaffected because we expect it to continue to maintain a debt-to-EBITDA ratio at the higher end of its 4x-4.5x target range,” S&P said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.