Altice (ATUS) Debt Is a $60 Billion Nightmare for Creditors

Jun 28, 2023

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An Altice flag at their headquarters in Lisbon.

Welcome to The Brink. This is Irene Garcia Perez and Libby Cherry in London, where we have been reporting on growing concerns surrounding telecommunications giant Altice. We also have news on Chinese developers and US cinema chain AMC. Follow this link to subscribe. Send us feedback and tips at [email protected] or Tweet/DM to @irenegperez.

A debt pile of more than $60 billion, rapidly rising borrowing costs, a corruption investigation that’s led to the arrest of a co-founder: Telecommunications group Altice’s problems are a growing headache for investors. The debt is split between the company’s three main entities — Altice France, Altice International and Altice USA — so creditors everywhere are hurting, but it’s in Europe, where the group represents a big chunk of the high-yield universe that the pain is particularly acute.