DBRS Discontinues Rating on Shaw Communication’s Videon CableSystems Following Debentures Redemption

DBRS has today discontinued its BBB (low) rating on Shaw Communications Inc.’s (Shaw or the Company) wholly-owned Videon CableSystems Inc. This rating action follows the recent early redemption of this entity’s $130 million 8.15% Senior Secured Debentures, which were originally scheduled to mature on April 26, 2010.

These debentures were redeemed on April 15, 2009, which means all of the securities in this class have been repaid.

DBRS notes that the rating on Shaw’s Senior Notes remains at BBB (low) with a Positive trend.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodology is Rating Cable, which can be found on our website under Methodologies.

This is a Corporate (Cable & Satellite) rating.