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