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Bulletin: Cablevision Systems Corp. Ratings Unaffected By Resignation of Chief Operating Officer Dec 11
Standard & Poors, Dec 2011
Abstract
SAN FRANCISCO (Standard & Poor's) Dec. 16, 2011--Standard & Poor's Rating Services said today that the departure of a key Cablevision Systems Corp. executive does not have an immediate impact on our ratings or outlook on the company, but it does raise uncertainty regarding management of the cable properties during this transition. Yesterday, Cablevision announced that Chief Operating Officer Tom Rutledge will resign effective Dec. 19, 2011. Under Mr. Rutledge's supervision, Cablevision's metropolitan New York cable systems have performed well, generally demonstrating superior operating metrics. In particular, Cablevision has experienced a materially lower loss of basic video customers than most of its peers, a particularly noteworthy accomplishment given the presence of formidable competition from Verizon's rival FiOS video service, which...
Companies mentioned in this report are: Cablevision Systems Corp.
Action: Bulletin
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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