DBRS Assigns BB (high)/RR2 Instrument and Recovery Ratings to Vidéotron Ltée’s USD 800 Million Notes Issuance

DBRS has today assigned ratings of BB (high) and RR2 to Vidéotron Ltée’s (Vidéotron or the Company) issuance of USD 800 million 5.0% senior unsecured notes maturing July 15, 2022 (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 today for settlement on or around March 14, 2012. The Notes will be issued by way of an offering memorandum and reference the trust indenture dated on or around March 14, 2012.

DBRS expects Vidéotron to use the proceeds from this issue for the early repayment of any and all of its outstanding U.S. 6 7/8% notes due 2014, repayments under its revolving credit facility, related fees and expenses and general corporate purposes.

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.