London, 23 January 2015 -- Moody's Investors Service today confirmed the B1 Corporate Family Rating (CFR) and the B1-PD Probability of Default Rating (PDR) of Altice International S.a.r.l. ("Altice International") and assigned a definitive B1 CFR and a B1-PD PDR rating to Altice S.A. ("Altice"), Altice International's corporate parent. The B1 senior secured debt ratings at Altice International'sAltice Financing S.A. ("Altice Financing") financing subsidiary and the B3 senior notes ratings at Altice Finco S.A. ("Altice Finco") another financing vehicle of Altice International have also been confirmed. In addition Moody's assigned (i) a definitive B3 rating to Altice's existing senior notes due 2022; (ii) a (P)B3 rating to Altice's proposed new issuance of USD 1.8 billion and EUR 500 million of senior notes due 2025; (iii) a (P)B1 rating to the proposed issuance of USD 2.1 billion and EUR 500 million of senior secured notes due 2023 and to the proposed EUR 825 million-equivalent senior secured bank credit facility at Altice Financing and (iv) a (P)B3 rating to the proposed issuance of USD 385 million senior notes due 2025 at Altice Finco S.A. The outlook for all ratings is negative. This concludes the review of Altice and Altice International's ratings initiated on December 10, 2014.
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