DBRS Assigns A (low) Rating to Bell Canada’s $1.0 billion MTN Debentures Issuance

DBRS has today assigned a rating of A (low) to Bell Canada’s issuance of $1.0 billion 4.40% Series M-22 MTN Debentures (Debentures) maturing on March 16, 2018. The trend is Stable.

This debt issuance was initiated by Bell Canada today for settlement on or around March 16, 2011. The Debentures will be issued by way of supplement to its Short Form Base Shelf Prospectus and Prospectus Supplement dated September 3, 2009 and September 4, 2009, respectively, and reference the trust indenture dated November 28, 1997.

DBRS expects Bell Canada to use the proceeds from this issue as part of the financing of the acquisition of CTVglobemedia Inc. that is expected to close in Q2 2011.

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

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