Charter 2006 Annual Report Download - page 9

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7
CHARTER COMMUNICATIONS, INC. LETTER TO STOCKHOLDERS
divisions and markets, as well as our customer call centers, with the goal
of more effectively serving our customers. These and other operating
enhancements increase the productivity of our customer care representatives
and field service agents. We expect these improvements to provide additional
operating and capital efficiencies going forward.
Refinancing Transactions
We continuously pursue opportunities to extend debt maturities, enhance
liquidity, and reduce interest expense and total debt. In 2006, we completed
a series of transactions to extend $5.4 billion of maturities through 2012.
In addition, in early 2007 we refinanced and increased our bank facilities,
which improved liquidity by approximately $1 billion, extended an
additional $2.5 billion of maturities through 2012, and reduces interest
expense by approximately $50 million annually. Altogether, we expect
these improvements to provide Charter with adequate liquidity to fund
our operations and service debt obligations through 2008.
Future Outlook Remains Positive
We continue to be optimistic about the future of Charter as well as the cable
industry overall. We have made thoughtful and disciplined investments in
our future and will continue to do so. Our goal is to achieve consistent
operating and financial performance, while creating value for you, our
stockholders. We believe our results illustrate the strong progress we are
making toward that goal. We have a strong management team in place,
our strategies are clear, and we are keenly focused on execution. In short,
we believe we now have the people, the products, and the platform to
succeed in 2007 and beyond.
As always, we thank you for your continued confidence in the Company.
Sincerely,
Neil Smit
President and Chief Executive Officer
Paul G. Allen
Chairman
We have a strong
management team in
place, our strategies are
clear, and we are keenly
focused on execution.
In short, we believe we
now have the people,
the products, and the
platform to succeed
in 2007 and beyond.