| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Q > Headlines for Quebecor Media Inc. > News item |
S&P ups Quebecor Media
Standard & Poor's said it raised the long-term corporate credit rating on Quebecor Media Inc., and subsidiaries Videotron Ltee and Sun Media Corp., to BB from BB-.
The outlook is stable.
As of Sept. 30, the company had C$3.7 billion of reported debt outstanding, excluding obligations related to cross-currency interest rate swaps of about C$427 million.
The agency also said it raised various issue-level ratings on the company's debt driven by this upgrade. The recovery ratings on these debt obligations are unchanged.
The upgrade reflects what is considered sufficient deleveraging by the company in the past few quarters as well as expectations that the company will pursue its growth strategy such that adjusted debt-to-EBITDA is maintained in the 3x to 4x range for the next couple of years, S&P said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.