Business Context and Reporting Period
This Form 8-K was filed by Altice USA, Inc. (not Optimum Communications, Inc.) on March 22, 2018. The report details a material definitive agreement entered into by Altice US Finance I Corporation, an indirect wholly-owned subsidiary of the registrant.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, or liquidity metrics. The only specific financial figure disclosed relates to debt:
- Revolving Loan Commitments: $285 million (aggregate principal amount of revolving loans and/or commitments of the Revolving Consent Lenders as of the filing date).
Material Changes
The primary material change is the execution of a Fourth Amendment to the Company's Credit Agreement. Key terms include:
- Maturity Extension: The maturity date for the revolving loans and/or commitments of the Revolving Consent Lenders has been extended to April 5, 2023.
- Scope: The extension applies only to the Revolving Consent Lenders and does not cover other revolving lenders under the Credit Agreement.
- Effective Date: Expected to become effective on or about April 5, 2018, subject to customary closing conditions.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or specific risk factors beyond the standard incorporation of the amendment terms. The document notes that the summary of terms is qualified in its entirety by the full text of the Fourth Amendment attached as Exhibit 10.1.
Investor Verification Checklist
- Verify the full terms of the Fourth Amendment to the Credit Agreement in Exhibit 10.1.
- Confirm the list of "Revolving Consent Lenders" to understand which portion of the debt facility received the maturity extension.
- Check for any covenants or conditions precedent required for the amendment to become effective on April 5, 2018.
- Review the status of the remaining revolving lenders who did not consent to the extension.