Charter Communications' debt softened to 99 3/8 in a $2.5 million trade last week. Dealers say rumors of more cable paper pushed levels down. It could not be determined which firm traded the piece. Dealers believe another cable deal is in the pipeline, although specifics could not be determined. "It's either Charter's doing a new deal or another cable company," a trader speculated, regarding the expectation that an increase in cable paper may be on the horizon. Charter, a cable systems operator with more than six million subscribers, is based in St. Louis, Mo. Another dealer noted that Comcast's move to buy AT&T may also flood the market with additional cable paper.
Charter Softens On Pending Cable Deals