DBRS rates Videotron notes BB

DBRS said it assigned ratings of BB (high) and recovery rating of RR3 to Videotron Ltee's issuance of C$800 million 5% senior unsecured notes maturing July 15, 2022.

The trend is stable.

The notes will rank equally with all of the company's existing and future unsecured unsubordinated indebtedness, the agency said.

The proceeds will be used for the early repayment of any and all of its outstanding 6 7/8% notes due 2014, repayments under its revolving credit facility, related fees and expenses and general corporate purposes, DBRS said.

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