Fitch rates Rogers notes BBB+

Fitch Ratings said it assigned a BBB+ rating to Rogers Communications Inc.'s two-tranche $1 billion senior notes offering.

The offering consisted of $700 million 3.625% senior notes due 2025 and an additional $300 million to its existing $750 million 5% senior notes due 2044.

The outlook is negative.

The proceeds will be used to repay outstanding advances under the company’s bank credit facilities and for general corporate purposes, Fitch said.

The company’s good mix of wireless- and cable assets-positions it competitively and allows for significant revenue diversification through its robust bundled service offerings, the agency said.

Rogers also completed several strategic transactions in the past couple of years to secure additional spectrum capacity in the 700 MHz auction and long-term rights for highly valued sports content, Fitch said.

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