...September 23, 2019 NEW YORK (S&P Global Ratings) Sept. 23, 2019--S&P Global Ratings today said CSC Holdings LLC will likely use the proceeds from its proposed $1.25 billion add-on to its existing 5.75% unsecured notes due 2030 to repay a similar amount of its outstanding 2021 unsecured notes so estimated recovery prospects are unchanged. Therefore, the S&P Global Ratings issue-level rating on CSC's unsecured debt remains 'B' with a '6' recovery rating. Our '##-' issuer credit rating on parent Altice USA Inc. is unchanged because this is a leverage-neutral transaction. Our stable outlook continues to incorporate our expectation for deleveraging in the coming months such that the company's S&P Global Ratings-adjusted leverage will approach 5.0x by the end of 2019 from 5.6x for the 12 months ended June 30, 2019. We expect this improvement to come from continued EBITDA growth on rising demand for high-margin broadband and an increase in the company's free operating cash flow. We also expect...
