Moody's may raise Rogers

Moody's Investors Service said it placed all long-term ratings of Rogers Communications Inc., Rogers Cable Inc. and Rogers Wireless Inc. under review for possible upgrade.

Rogers Communications Inc. ratings affected include the Ba3 corporate family rating and B3 rating on the C$75 million 10½% senior unsecured notes due February 2006.

Rogers Cable Inc. ratings affected include the Ba3 rating on the C$450 million 7.6% senior secured second-priority notes due February 2007, the C$175 million 7¼% senior secured second-priority notes due 2011, the $350 million 7 7/8% senior secured second-priority notes due 2012, the $350 million 5½% senior secured second-priority notes due 2013, the $350 million 5½% senior secured second-priority notes due March 2014, the $280 million 6¾% senior secured second-priority notes due 2015 and the $200 million 8¾% second-priority debentures due 2032 and the B2 rating on the $114 million 11% senior subordinated guaranteed debentures due 2015.

Rogers Wireless Inc.'s ratings affected include the Ba3 rating on the $160 million 10½% senior secured notes due 2006, the $550 million floating-rate senior secured notes due 2010, the $490 million 9 5/8% senior secured notes due 2011, the $470 million 7¼% senior secured notes due 2012, the $750 million 6 3/8% senior secured notes due 2014, the $550 million 7½% senior secured notes due 2015 and the $155 million 9¾% senior secured debentures due 2016 and the B2 $400 million 8% senior subordinated notes due 2012.

Moody's said the review has been prompted by the strong operating performance of the now-dominant wireless subsidiary, which has exceeded Moody's expectations, and by the conversion of nearly C$900 million of debt and debt-like preferred securities into equity of Rogers Cable.

© 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.