S&P ups Rogers to positive view

Standard & Poor's said it revised its outlook to positive from stable on Rogers Communications Inc., Rogers Wireless Inc. and Rogers Cable Inc. S&P said it also affirmed the BB long-term corporate credit rating on each of the companies.

The ratings affirmed include Rogers Communications Inc.'s corporate credit rating at BB and senior unsecured debt at B+; Rogers Cable Inc.'s corporate credit rating at BB, senior secured debt at BB+ and subordinated debt at B+; Rogers Wireless Inc.'s corporate credit rating at BB, senior secured debt at BB and subordinated debt to B+; Rogers Telecom Holdings Inc.'s corporate credit rating at BB and senior secured debt at BB.

S&P said the revised outlook is based on recent deleveraging coupled with strong performance at Rogers Wireless.

Rogers Communications remains acquisitive and is expected to continue both strategic and growth acquisitions where available, which could result in substantial changes to debt in future, S&P said.

The company does have a track record of deleveraging following large debt-financed acquisitions. Nevertheless, this does create long-term uncertainty, and will continue to be an important rating factor as short-term financials continue to improve, S&P said.

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