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Recovery Report: Charter Communications Inc.'s Recovery Rating Profile May 11 Product Image

Recovery Report: Charter Communications Inc.'s Recovery Rating Profile May 11

  • ID: 1770930
  • May 2011
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services is assigning its issue-level and recovery ratings to co-issuers CCO Holdings LLC's and CCO Holdings Capital Corp.'s (together "CCOH" or "co-issuers") proposed $1.5 billion issuance of senior unsecured notes. The co-issuers are subsidiaries of Charter Communications Inc. (Charter), which guarantees the notes. The company will use net proceeds to repay a portion of CCO's outstanding first-lien credit facilities. In addition, as a result of the expected permanent reduction in secured bank debt, we have raised our issue-level and recovery ratings on approximately $4.35 billion of existing Charter unsecured debt. Our simulated default scenario contemplates lower revenue generation due to continued pricing pressure and competition from major telecommunications companies and direct-to-home companies in the major markets...

Companies mentioned in this report are:
- Charter Communications Holdings LLC
- Charter Communications Operating LLC
- Charter Communications Inc.
- CCO Holdings LLC
- CCO Holdings Capital Corp.

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

Note: Product cover images may vary from those shown

- Charter Communications Holdings LLC
- Charter Communications Operating LLC
- Charter Communications Inc.
- CCO Holdings LLC
- CCO Holdings Capital Corp.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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