SAN FRANCISCO (Standard&Poor's) Jan. 8, 2009--Standard&Poor's Ratings Services said today it assigned its 'BB' rating and '3' recovery rating to CSC Holdings Inc.'s $500 million of proposed senior notes. Proceeds will be used to fund upcoming maturities. The '3' recovery rating indicates the expectation for meaningful (50%-70%) recovery of principal in the event of payment default. The corporate credit ratings on CSC and its parent, Bethpage, N.Y.-based Cablevision Systems Corp., are both 'BB' with a negative outlook. "The ratings on Cablevision reflect our expectation that the company will continue to pursue an aggressive financial policy," said Standard&Poor's credit analyst Richard Siderman, "a factor that overshadows the company's investment-grade business risk profile." Cablevision's satisfactory business
