DBRS Assigns BBB Rating to Rogers Communications Inc.’s New Issue, Stable Trend

DBRS has today assigned a BBB rating with a Stable trend to Rogers Communications Inc.’s (RCI) issue of $1.1 billion of senior unsecured notes (the Notes). The Notes consist of two tranches: (1) $500 million 3.0% notes maturing on June 6, 2017, and (b) $600 million 4.0% notes maturing on June 6, 2022. The Notes will rank pari passu with all of RCI’s other senior unsecured obligations.

DBRS expects RCI to use the net proceeds from the debt issuance to repay balances drawn on its credit facility, fund an investment in a 37.5% ownership interest in Maple Leaf Sports & Entertainment Ltd. and for general corporate purposes.

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

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