S&P assigns Videotron notes B+

Standard & Poor's said it assigned its B+ rating to Videotron Ltee.'s proposed $175 million senior unsecured notes due December 2015.

In addition, all ratings outstanding on Videotron and its parent company, Quebecor Media Inc., along with the ratings on Quebecor Media's subsidiary Sun Media Corp., including the BB- long-term corporate credit rating, were affirmed.

The outlook on all companies is stable.

The ratings on Quebecor are based on the credit risk profile of the company and its consolidated subsidiaries, including Videotron Ltee. and Sun Media Corp., the agency said.

S&P noted the ratings on Quebecor Media largely reflect its aggressive financial profile, high debt leverage, cyclical industry fundamentals in the company's newspaper division and intense competition in all of its business segments.

These factors are partially offset by Quebecor Media's solid market positions in cable and newspapers, which together accounted for about 70% of reported revenues and 84% of reported operating income for the six months ended June 30, the agency added.

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