S&P affirms Rogers Communications, units

Standard & Poor's said it affirmed its BB long-term corporate credit ratings and B-2 short-term credit ratings on Rogers Communications Inc. (RCI), Rogers Wireless Inc. (RWI) and Rogers Cable Inc.

Rogers Communications' senior unsecured debt is rated B+; Rogers Cable's senior secured debt is rated BB+ and subordinated debt is rated B+; and Rogers Wireless' senior secured debt is rated BB.

The outlook is stable.

S&P said the long-term corporate credit ratings on Rogers Communications reflect the company's weak credit measures given its high debt leverage and negative free operating cash flow, which are partially mitigated by the company's investment-grade business profile, underpinned by the strength of its national wireless business and regional cable operations.

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