Bell Mobility Cellular receives double upgrade from S&P.MONTREAL--(BUSINESS WIRE)--March 27, 1995-- BCE BCE abbr. 1. Bachelor of Chemical Engineering 2. Bachelor of Civil Engineering BCE Abbreviation for before the Common Era. Mobile Communications Inc. (BCE Mobile) today announced that its subsidiary, Bell Mobility Cellular Inc., has received an upgrade in its credit rating to "BBB BBB A medium grade assigned to a debt obligation by a rating agency to indicate an adequate ability to pay interest and repay principal. However, adverse developments are more likely to impair this ability than would be the case for bonds rated A and above. plus" from Standard & Poor's Corporation (S&P). The rating upgrade applies to the company's Senior Unsecured Unsecured A loan or equity interest that is given without any guarantee of payment, performance, satisfaction or opportunity for return from the recipient. No property, interest or security is used as collateral in either a guarantee or a pledge. Debentures, Series C and is two rankings higher than the "BBB minus" assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. by S&P in April 1993. In addition, S&P today assigned the same "BBB plus" rating to Bell Mobility Cellular's Senior Unsecured Debentures, Series D. In its current rating assessment, S&P cited Bell Mobility Cellular's strong market positions in Ontario and Quebec, its conservative operating and financial policies, and the improving fundamentals in the Canadian cellular industry. Said Robert Ferchat, chairman of the board, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of BCE Mobile, "This rating, which is the highest awarded by S&P to a cellular operator in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , confirms the substantial progress we have made in our operating and financial results in the past two years". Bell Mobility Cellular provides cellular telephone service to more than 600,000 customers in Ontario and Quebec, and across North America through its participation in Mobility Canada and MobiLink. BCE Mobile is the Canadian leader in mobile communications. Its subsidiaries, operating under the Bell Mobility banner, provide cellular, paging, data and airline passenger communications services and are involved in the sale of cellular hardware and private radio systems. BCE Mobile is a publicly traded subsidiary of BCE Inc. CONTACT: John Gutpell, (514) 956-4827 |
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