US cable operator Charter Communications is proposing a new US$750m loan due 2019 and new US$1.1bn revolving credit facilities due 2017, according to a statement by Standard & Poor’s.
The ratings agency said that Charter plans to use the proceeds,…
US cable operator Charter Communications is proposing a new US$750m loan due 2019 and new US$1.1bn revolving credit facilities due 2017, according to a statement by Standard & Poor’s.
The ratings agency said that Charter plans to use the proceeds, including a draw of around US$250m on the new revolver, to repay US$750m of loans and US$230m that is outstanding under its current revolver.
S&P rated the new loan and revolver at ‘BB+’ with a ‘1’ recovery rating.
Charter was not immediately available for comment.