DBRS Rates Shaw Communications Inc.’s $1.25 Billion Issuance at BBB, Stable Trend

DBRS has today assigned a rating of BBB, with a Stable Trend, to the finalized $1.25 billion 5.65% Senior Unsecured Notes (the Notes) due October 2019 issued by Shaw Communications Inc. (Shaw or the Company). The ten-year Notes were issued at 99.683 with a yield-to-maturity of 5.692%.

DBRS expects Shaw to use the proceeds from this Notes issue for debt repayment or redemption, for working capital and general corporate purposes. DBRS notes that proceeds directed toward debt repayment or redemption will help to smooth out Shaw’s debt maturity profile and optimize interest expenses.

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.