Fitch lifts Rogers Communications

Fitch Ratings said it upgraded Rogers Communications Inc.'s senior subordinated notes to BBB- from BB+ and its issuer default rating and senior unsecured notes to BBB from BBB-.

The outlook is stable.

The agency said the upgrade reflects Rogers' continued strong financial performance that has led to a strengthening of its credit measures driven by greater revenues and increased profitability with the wireless operations. Fitch believes Rogers' mix of cable and wireless assets competitively positions the company and allows for revenue diversification through its robust bundled service offer. As a result, the agency expects Rogers to continue its positive operating momentum and sustain growth over the longer-term.

Leverage at the end of the first quarter was 2.1 times.

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