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DBRS rates Videotron notes BB (high)
DBRS said it assigned ratings of BB (high) and RR3 to Vidéotron Ltée's issuance of C$300 million of 6 7/8% senior notes due July 15, 2021.
The trend is stable.
The notes will rank equally with all of the company's existing and future unsecured unsubordinated debt, the agency said.
This debt issuance was initiated by Vidéotron for settlement on or around July 5, the agency added.
DBRS said it expects Vidéotron to use the proceeds from this issue for the early repayment of a portion of its outstanding U.S. 6 7/8% notes due 2014 and related cross-currency swaps.
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