DBRS Assigns A (low), BBB Ratings to Bell Canada $3.0 Billion Debt Program

DBRS has today assigned A (low) and BBB ratings to Bell Canada’s debt securities program as per the final Short Form Base Shelf Prospectus filed August 15, 2011. The trends are Stable.

Any issuance of debt under this $3.0 billion program would be: (a) MTN Debentures which are unsecured, will rank pari passu with all other unsecured and unsubordinated indebtedness of Bell Canada, and will be issued under its November 28, 1997, trust indenture; and/or (b) Subordinated Debentures which are subordinated in right of payment to senior debt of Bell Canada and will be issued under its April 17, 1996, trust indenture. Any debt that is issued will be fully and unconditionally guaranteed by BCE Inc.

As ratings are subject to change, subsequent assignment of ratings for Bell Canada will be provided by DBRS as MTN Debentures are issued under this program.

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

The applicable methodologies are Rating the Communications Industry, Rating the Television Broadcasting Industry and Rating the Radio Broadcasting Industry, which can be found on our website under Methodologies.