Fitch gives B- to Cablevision notes

Fitch Ratings said it assigned a B- rating to Cablevision System Corp.'s $900 million issuance of senior unsecured notes due 2017. The notes were sold under Rule 144A with registration rights.

Proceeds generated from the issuance are expected to be down-streamed to wholly owned subsidiary CSC Holdings, Inc. and used to fund a cash tender offer to repurchase CSC's 7 5/8% senior notes due 2011 and its 6¾% senior notes due 2012.

Cablevision System and its subsidiary CSC have a BB- issuer default rating, and all the ratings have a stable outlook.

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