New York, May 10, 2016 -- Moody's Investors Service ("Moody's) upgraded Charter Communications Inc.'s ("Charter") Corporate Family Rating (CFR) to Ba2 from Ba3, Probability of Default rating to Ba2-PD from Ba3-PD and revised the rating outlook to stable from review for upgrade following the Federal Communications Commission's announcement that it has formally approved the acquisition of Time Warner Cable, Inc. ("TWC") and Bright House Networks ("BHN") by Charter. Moody's also downgraded Charter Communications Operating, LLC's ("CCO"- a wholly-owned subsidiary of Charter) Baa3 senior secured bank credit facility rating to Ba1 and confirmed CCO Holdings, LLC's ("CCOH" - a wholly-owned subsidiary of Charter) B1 senior unsecured debt ratings. Concurrently, Moody's downgraded TWC's senior unsecured long-term debt ratings to Ba1 from Baa2. Moody's ratings for TWC senior unsecured debt anticipates that those notes will be secured at the close of the acquisition. In addition, TWC's commercial paper rating was lowered to Not Prime from Prime-2 and will be withdrawn at the time of closing. This concludes the review for upgrade of Charter's ratings and review for downgrade for TWC's debt ratings initiated on May 26, 2015 following Charter's agreement to acquire TWC for approximately $80 billion. The Speculative Grade Liquidity (SGL) rating is unchanged at SGL-2.

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