DBRS Rates Cogeco’s US$400 Million Senior Unsecured Notes Issue BB / RR5, Stable

DBRS has today finalized its rating of BB and its recovery rating of RR5 of Cogeco Cable Inc.’s (Cogeco or the Company) US$400 million Senior Unsecured Notes (the Notes) issue carrying an interest rate of 4.875% and maturing on May 1, 2020. The Notes reference the trust indenture dated April 23, 2013.

The Company has used the net proceeds from the offering, together with borrowings under one of its senior secured credit facilities, to repay the term loan tranches of the senior secured credit facilities the Company entered into in connection with its acquisition of PEER 1 Network Enterprises, Inc. in January 2013.

Notes:
The applicable methodology is Rating the Communications Industry (April 2011), which can be found on our website under Methodologies.