DBRS gives Corus BBB

DBRS said it assigned a BBB issuer rating to Corus Entertainment Inc. and a senior unsecured notes rating of BBB (low).

The trend is stable.

Ratings are supported by Corus's healthy business risk profile and reasonable financial risk profile, the agency said.

The greatest risk to the ratings is the fact that Corus remains acquisitive and has a tolerance for leverage higher than the current levels, the agency noted.

The agency said Corus currently has reasonable credit metrics, with a debt-to-EBITDA ratio below 3 times but that it has indicated that it could tolerate a higher leverage level of 3 times to 3.5 times and possibly 4 times or more for a short period, given the right acquisition.

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