Just a thought .....
Altice USA, a telecommunications group, has a $60 billion debt burden. The company's debt problems include:
- An ongoing corruption scandal
- Rising borrowing costs
- Declining free cash flow
- Annual debt maturities escalating from less than $1 billion to over $5 billion in 2027
- Additional $15 billion in debt maturities from 2028 to 2031
- Competition from Verizon Communications and Frontier Communications
The company's debt problems have sent the price of its debt plunging. According to Reuters, the group's bonds are a risky proposition, even with current high yields.
The company's corruption scandal involves:
- Centralizing procurement
- Selecting Huawei as a vendor
- A criminal investigation into corruption, money laundering, and tax fraud in Portugal
- The arrest of Armando Pereira, a close associate of Drahi
- Suspensions in France, Portugal, and the US
