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Cablevision Lightpath LLC -- Moody's assigns B2 rating to Lightpath ahead of planned carve-out from Altice USA; outlook is stable

·19 min read
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Moody's Investors Service ("Moody's") assigned a B2 Corporate Family Rating and B2-PD Probability of Default (PDR) rating to Cablevision Lightpath LLC ("Lightpath", the "Borrower", "Issuer", or "Company"), ahead of the planned carve-out from Altice USA, Inc. ("Altice", unrated). Moody's assigned a B1 rating to the Company's planned issuance of a new $700 million Senior Secured Bank Credit Facility including a new 5-year, $100 million Revolving Credit Facility (due 2025) and a new 7-year, $600 million Term Loan B (due 2027).