CCH I LLC Assigned 'BB+' Corporate Credit Rating Upon Charter Communications' Completion Of Acquisitions; Outlook Stable

U.S. cable operator Charter Communications Inc. (Charter) has completed its acquisitions of Time Warner Cable Inc. and Bright House Networks. Pro forma for the transactions, we estimate adjusted debt to EBITDA of approximately 4.5x for 2016, with the potential to decline to the low-4x area in 2017 through organic EBITDA growth and the achievement of cost synergies. We are assigning our 'BB+' corporate credit rating to the new parent entity, CCH I LLC (new Charter), and discontinuing our 'BB-' corporate credit rating on Charter as this entity will no longer exist under the new legal structure. At the same time, we are raising our issue-level ratings on all secured debt at Charter Communications Operating LLC (CCO) and escrow entities to

...+ U.S. cable operator Charter Communications Inc. (Charter) has completed its acquisitions of Time Warner Cable Inc. and Bright House Networks. + Pro forma for the transactions, we estimate adjusted debt to EBITDA of approximately 4.5x for 2016, with the potential to decline to the low-4x area in 2017 through organic EBITDA growth and the achievement of cost synergies. + We are assigning our '##+' corporate credit rating to the new parent entity, CCH I LLC (new Charter), and discontinuing our '##-' corporate credit rating on Charter as this entity will no longer exist under the new legal structure. + At the same time, we are raising our issue-level ratings on all secured debt at Charter Communications Operating LLC (CCO) and escrow entities to '###' with a recovery rating of '1'. In addition, we are raising our issue-level ratings on all unsecured debt at CCO Holdings LLC (CCOH) and escrow entities to '##+' with a recovery rating of '4'. + In addition, we are discontinuing our '###' corporate...

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