According to a report in the Asheville Citizen-Times, Charter Communications may either swap some of its debt for equity positions in the company or declare bankruptcy. bond rating agency Fitch Ratings said Thursday.
Fitch Ratings placed $21.1 billion of Charter debt on a negative ratings watch, meaning there is a good possibility it will downgrade ratings, already at “junk” bond levels.
The company said last week that it had asked its financial advisor to begin “discussions with bondholders about financial alternatives to improve the company’s balance sheet.”
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