DBRS Assigns BBB Rating to Shaw Communications Inc.’s $900 Million Senior Notes Issuance

DBRS has today assigned a rating of BBB to Shaw Communications Inc.’s (Shaw or the Company) aggregate senior notes issuance totaling $900 million. The trend is Stable. The issuance consists of two tranches: $500 million 5.50% 2020 notes and $400 million 6.75% 2039 notes.

This debt issuance was initiated by Shaw today for settlement on or near December 7, 2010. The notes will be issued by way of supplement to its short-form base shelf prospectus dated November 17, 2010, and reference the trust indenture dated November 5, 2010.

DBRS expects Shaw to use the proceeds from this issuance for repayment of debt incurred to complete the acquisition of Canwest Global Communications Corp.’s television assets and other refinancing.

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.