DBRS Assigns BB (high)/RR3 Instrument and Recovery Ratings to Vidéotron’s $300 Million Notes Issuance

DBRS has today assigned ratings of BB (high) and RR3 to Vidéotron Ltée’s (Vidéotron or the Company) issuance of $300 million 6.875% senior unsecured notes maturing July 15, 2021 (the Notes). The trend is Stable. The Notes will rank equally with all of the Company’s existing and future unsecured unsubordinated indebtedness.

This debt issuance was initiated by Vidéotron yesterday for settlement on or around July 5, 2011. The Notes will be issued by way of an offering memorandum and reference the trust indenture dated July 5, 2011.

DBRS expects Vidéotron to use the proceeds from this issue for the early repayment of a portion of its outstanding U.S. 6 7/8% notes due 2014 and related cross-currency swaps.

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

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