DBRS Places Telesat Canada Under Review - Negative

Dominion Bond Rating Service (“DBRS”) has today placed the rating of Telesat Canada (“Telesat”) “Under Review with Negative Implications”, following the announcement that the parent, BCE Inc., plans on raising significant debt at Telesat in order to distribute a special dividend to BCE Inc.

DBRS notes that the added leverage clearly will place pressure on the credit profile of Telesat.