Moody's rates Videotron notes Ba2

Moody's Investors Service said it assigned a Ba2 rating to Videotron Ltee.'s new $500 million senior unsecured notes.

Videotron is a wholly owned subsidiary of Quebecor Media Inc., the senior-most company in the Quebecor family for which Moody's maintains ratings.

Because proceeds from the new notes will be used to repay drawings under the revolving credit facility and repay notes of the same seniority, Moody's said the transaction has no ratings implications and the new notes are rated at the same Ba2 level as the notes they replace.

Similarly, Quebecor's Ba3 corporate family rating, Ba3 probability of default rating, SGL-2 speculative grade liquidity rating and stable outlook are not affected and remain unchanged. The ratings for all debt instruments in the corporate family also remain unchanged.

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