Moody's: Rogers notes Baa2

Moody's Investors Service said it assigned a Baa2 rating to Rogers Communications Inc.'s new senior unsecured debt issues, C$1.45 billion of 5.34% notes due 2021 and C$400 million of 6.56% notes due 2041.

The outlook is stable.

With substantially all of the proceeds used to refinance existing debt, the new issues are neutral to Rogers' consolidated credit profile and the new notes are rated at the same Baa2 level as the balance of the company's senior unsecured debt, Moody's said.

Rogers has a solid business profile that combines Canada's largest wireless services operation with one of the country's largest cable television operations, the agency said.

Revenues and cash flow have grown as the customer base and economy have expanded, by increased penetration of homes passed and by new services enabled by advancing technology, Moody's said.

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