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Article: Fitch Rates Rogers $1B Debt Offering 'BBB'; Outlook Stable.
- Article from:
- Investment Weekly News
- Article date:
- November 14, 2009
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Fitch Ratings has assigned a 'BBB' rating to Rogers Communications Inc. (Rogers) CAD500 million 10-year senior unsecured notes and CAD500 million 30-year senior unsecured notes. The proceeds from the offering will be used for general corporate purposes, including the repayment of Rogers' US$400 million 8% senior subordinated due 2012 debt. The Rating Outlook is Stable.
The terms and covenants of the new debt offering are virtually the same as Rogers existing debt. The notes are fully and unconditionally guaranteed by two of Rogers wholly owned subsidiaries, Rogers Cable Communications Inc. (RCCI) and Rogers Wireless Partnership (RWP) and rank pari passu with ...