Business Context and Reporting Period
This Form 8-K is filed by Altice USA, Inc. (the Registrant) regarding its subsidiary, CSC Holdings, LLC (the "Company"). The report covers events occurring on April 11, 2025.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on a corporate event regarding debt negotiations.
Material Changes and Events
Under Item 8.01 (Other Events), the Company reported the conclusion of negotiations with an ad hoc group of holders of its term loans and notes (the "CSC Debt"). Key details include:
- Counterparty: An ad hoc group of debt holders represented by Akin Gump Strauss Hauer & Feld LLP (legal counsel) and PJT Partners LP (financial advisor).
- Outcome: The Company and the ad hoc group did not reach an agreement on a transaction.
- Current Status: No discussions between the Company and this group are ongoing at this time.
Guidance, Outlook, and Risks
The filing does not contain updated financial guidance, management commentary on future outlook, or specific risk factors beyond the disclosed failure to reach a debt restructuring agreement. The cessation of negotiations with this specific creditor group is the primary contingency noted.
Investor Verification Checklist
- Verify the total outstanding amount of the "CSC Debt" referenced in the negotiations.
- Confirm whether other creditor groups are currently engaged in separate negotiations with the Company.
- Review subsequent press releases or filings for any new developments regarding the Company's liquidity or debt maturity schedule.
- Check the Company's most recent 10-K or 10-Q for baseline debt covenants and maturity dates.