DBRS Rates Rogers Communications Inc.’s $1 Billion Notes Issue BBB, Stable Trend

DBRS has today assigned a BBB rating to the $1.0 billion senior unsecured notes issue of Rogers Communications Inc. (RCI). The trend is Stable.

DBRS notes the debt issuance consists of a single tranche: $1.0 billion 5.8% notes that mature May 26, 2016. The debt issue, which is expected to close on or about May 26, 2009, will be issued by RCI and guaranteed by two of its wholly owned subsidiaries, Rogers Wireless Partnership and Rogers Cable Communications, Inc.

DBRS expects RCI to use the net proceeds from the debt issuance for general corporate purposes, including the repayment of outstanding debt under RCI’s credit facility.

Note:
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.

This rating is based on public information.