S&P rates Videotron notes BB-

Standard & Poor's said it assigned its debt issue and recovery ratings to Videotron Ltee's proposed $350 million senior unsecured notes due April 2018, adding that Videotron is a 100%-owned subsidiary of Quebecor Media Inc.

The notes and the guarantees are senior unsecured obligations of Videotron, ranking equally with all existing and future unsecured unsubordinated debt of the company, S&P said, adding that the notes are rated BB-, the same as the corporate credit rating on Quebecor Media, with a recovery rating of 4.

At the same time, S&P said it affirmed the BB- debt rating on Videotron's existing senior unsecured notes and revised the recovery rating to 4 from 3 while it also affirmed all other ratings, including the BB- long-term corporate credit ratings, on Videotron, Quebecor Media and another subsidiary, Sun Media Corp.

The outlook on all companies is stable.

According to S&P, the ratings on Montreal-based Quebecor Media are based on the credit risk profile of the company and its consolidated subsidiaries, including 100%-owned Videotron and 100%-owned Sun Media.

© 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.