S&P Places Charter Communications (CHTR) on CreditWatch Positive
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Charter Communications' (CHTR) Move to Acquire Bright House is Credit-Positive Development - Moody's
March 31, 2015 5:00 PM EDTMoody's says the announced plan of Charter Communications, Inc. (Charter) (Nasdaq: CHTR) to acquire Bright House Networks (Bright House) for $10.4 billion does not impact Charter's Ba3 Corporate Family Rating (CFR). The transaction would favorably expand scale and reduce leverage relative to our expectations for Charter following its previously announced transaction with Comcast Corporation (Comcast, A3 positive) and Time Warner Cable, Inc. (TWC, Baa2 on review for possible upgrade), but also elevate operational risk.
The acquisition of BrightHouse would bring an upgraded asset base and footprint with higher customer penetration than Charter's existing... More
Charter (CHTR) Agrees to Acquire Bright House Networks in $10.4B Deal
March 31, 2015 7:18 AM EDT(Updated - March 31, 2015 8:31 AM EDT)
Charter Communications, Inc. (NASDAQ: CHTR) and its subsidiary, CCH I, LLC (together, the "New Charter" or "Charter")1 and Advance/Newhouse Partnership (the parent company of Bright House Networks, LLC) announced that the companies have reached a definitive agreement (the "Agreement") whereby Charter will acquire Bright House Networks ("Bright House") for $10.4 billion. Bright House is the sixth largest cable operator in the United States, and serves approximately 2 million video customers in central Florida including Orlando and Tampa Bay, as well as Alabama, Indiana, Michigan, and California.
The business will... More
