Moody's rates Videotron notes Ba1

Moody's Investors Service said it assigned Ba1 ratings to Videotron Ltee's planned C$400 million and $500 million of senior unsecured notes. Videotron is a wholly owned operating subsidiary of Quebecor Media, Inc.

The Ba1 ratings on Videotron's senior unsecured notes as well as QMI's Ba1 corporate family rating, Ba1-PD probability of default rating, Ba2 ratings on its senior unsecured notes, SGL-1 speculative grade liquidity rating and the positive outlooks on QMI and Videotron remain unchanged, Moody’s said.

The notes may be upsized and the company plans to use the net proceeds and balance sheet cash to repay debt at Videotron and QMI.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.