S&P; Lowers Charter’s Credit Rating
Charter Communications Inc.’s credit rating was lowered to B from B+ by Standard & Poor’s because of the company’s “weak operating performance,” the rating company said.
The cable provider’s debt, which already is rated as junk or non-investment grade, is under review for further downgrades, S&P; said. It announced its decision a day after St. Louis-based Charter Communications fired its chief financial officer and chief operating officer.
Charter shares fell 6 cents, or 5.1%, to $1.11 on Nasdaq.
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