Moody’s alters Quebecor Media view to positive

Moody’s Investors Service said it changed the outlook for Quebecor Media, Inc. to positive from stable and the outlook on subsidiary Videotron Ltee to positive from no outlook.

“The positive outlook reflects expectations that the company will manage pressures in its wireline business well and grow its wireless business while continuing with its deleveraging path through the next 12 to 18 months,” Moody’s said in a press release.

Moody’s also affirmed Quebecor’s Ba1 corporate family rating, Ba1-PD probability of default rating and Ba2 ratings on its senior unsecured notes and upgraded the company’s speculative grade liquidity rating to SGL-1 from SGL-3. At the same time, Moody’s affirmed the Ba1 ratings on Videotron’s senior unsecured notes.

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