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DBRS puts Bell Canada/BCE under negative review
DBRS said it placed all ratings of Bell Canada (the company) and its parent company BCE Inc. under review with negative implications following the company’s announcement that it has entered into a definitive arrangement agreement to acquire all of the issued and outstanding shares of Manitoba Telecom Services Inc. (rated BBB with a stable trend).
The transaction is valued at about C$3.9 billion, including C$928 million of debt to be assumed. The company expects to finance the remaining portion of the value through a combination of cash/debt (DBRS estimates approximately C$1.4 billion) and equity (DBRS estimates approximately C$1.6 billion).
The transaction is expected to close in late 2016 or early 2017.
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