Fitch: Rogers view to negative

Fitch Ratings said it affirmed Rogers Communications Inc.'s issuer default rating at BBB+ and senior unsecured notes at BBB+.

The outlook on the issuer default rating was revised to negative from stable.

Fitch said the outlook revision is reflective of the increase in near-term financial risk associated with Rogers' $3.3 billion spectrum acquisition in the recent 700 MHz spectrum auction. Notably, Fitch acknowledges the strategic importance and several longer-term advantages of this highly valuable spectrum that Rogers paid C$4.32 per MHz/POP in its major markets. The amount is similar to prices paid in the U.S. for 700 MHz spectrum during past transactions.

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