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S&P: Rogers unaffected
Standard & Poor's said the ratings on Rogers Communications Inc. (BB/stable/B-2) are unaffected by the announced definitive agreement between Rogers Communications Inc. and Call-Net Enterprises Inc. (B-/Watch positive/--) under which Rogers will acquire 100% of Call-Net in an all-stock transaction.
The transaction is expected to close in third-quarter 2005.
From a strategic perspective the acquisition of Call-Net will enhance Rogers' presence in the nationwide telecommunications segment, both business and residential.
Financially, the acquisition will have a neutral overall effect on Rogers, and will have no material impact on key credit ratios, S&P said. Call-Net has significantly lower profit margins, but also has only a small amount of debt.
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