Moody’s turns Videotron view to positive

Moody's Investors Service changed the outlook for Videotron Ltee.'s to positive from stable and affirmed its Ba1 corporate family rating, Ba1-PD probability of default rating and Ba2 senior unsecured notes ratings. The agency also lowered the company's speculative grade liquidity rating to SGL-3 from SGL-2.

"The outlook changed reflects our expectation for continued good operating performance and deleveraging", said Peter Adu, a Moody's vice president and senior credit officer, in a press release.

The agency said it estimates Videotron will get its leverage below 3.25x by the end of 2024.

"The liquidity rating was lowered because of debt maturities and spectrum funding in 2024, which will consume a sizeable portion of the company's liquidity," Adu added.

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