S&P: Bravo Deal Won't Change Rating

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Standard & Poor's announced Tuesday that Cablevision Systems Corp.'s deal
to sell its 80 percent share in Bravo to NBC will not affect its ratings or
outlook for the MSO.

S&P said it expects Cablevision to monetize the roughly $450 million to
$670 million of General Electric Co. stock it will receive in the deal to reduce
bank debt, including borrowings on its $2.4 billion revolving credit
facility.

However, the MSO will lose roughly $55 million in annual operating cash flow
from Bravo, S&P added, so the overall deleveraging impact is
minimal.

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