Charter Communications is offering $1 billion in senior...
Charter Communications is offering $1 billion in senior unsecured notes due in 2024, using the money to buy back other senior notes due in 2018, the cable operator said in a news release Friday (http://bit.ly/11owd32). It said a unit is…
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also getting a $1.2 billion term loan and engaging in other refinancing and other activities. Charter’s leverage “poses risk considering the pressure on revenue from its increasingly mature core video offering” that represents about half of sales, Moody’s said. It said “Charter’s initiatives to enhance its product set, especially the video offering, and to implement changes to its selling strategy and organizational structure will keep operating and capital expenditures elevated,” as greater product penetration and expanding its commercial business boost cash flow.