...July 26, 2023 PARIS (S&P Global Ratings) July 26, 2023--S&P Global Ratings today said that corruption allegations at Altice Portugal currently do not alter our view of governance or indicate financial liabilities at the Altice companies that materially affect our view of their creditworthiness. Alice International and Altice France disclosed that investigations by the Portuguese authorities have implicated senior management (current and former), including co-founder Armando Pereira, who faces criminal charges. At this early stage, we understand the investigation is focused on procurement transactions that accounted for a relatively small portion of Altice Portugal's capital expenditure (capex) budget. We believe eight to nine Altice personnel (at Altice Portugal and more broadly) have been suspended in response to the allegations, which include that procurement may not have been fairly or competitively bid, or that suppliers may have been forced to work through intermediaries in a manner...
