DBRS Rates YPG Holdings Inc.’s $90 million Notes Issue BBB (high), Stable Trend

DBRS has today assigned a rating of BBB (high) to the $90 million Medium-Term Notes (the Notes) issue of YPG Holdings Inc. (YPG or the Company). The trend is Stable.

The Notes will be issued in a single tranche, $90 million 6.85% maturing on December 3, 2013, under YPG’s $1 billion short form shelf prospectus dated June 20, 2008. The Notes will be unsecured direct obligations of YPG, will be fully and unconditionally guaranteed by its operating and other subsidiaries and will rank pari passu with all other unsecured and unsubordinated debt of YPG and its guarantors. The issuance is expected to close on or about July 3, 2009.

DBRS expects YPG to use the proceeds from this Notes issue for repaying existing indebtedness and general corporate purposes.

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

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

This is a Corporate rating.