Moody’s rates Cablevision notes B3/Baa1.ar

Moody's Investors Service said it assigned a B3 global scale rating and a Baa1.ar national scale rating to Cablevision SA's $500 million new notes and affirmed its B3 corporate family rating and senior unsecured ratings.

The outlook is stable.

Proceeds will be used to refinance existing debt and for corporate purposes.

"The B3 rating is principally supported by Cablevision's position as the major player in the local media industry, with the largest base of subscribers and a dominant market position in the Pay TV industry as well as broadband services," Moody's vice president, senior analyst Veronica Amendola said in a news release.

The ratings also reflect Cablevision's strong credit metrics for its rating category, adequate financial position and the company's advantage, derived from having presence in the most populated and profitable areas of the country, the agency said.

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