Bell Mobility Cellular receives rating upgrade from CBRS.MONTREAL--(BUSINESS WIRE)--Sept. 15, 1995--BCE Mobile Communications Inc. (BCE BCE abbr. 1. Bachelor of Chemical Engineering 2. Bachelor of Civil Engineering BCE Abbreviation for before the Common Era. Mobile) today announced that Canadian Bond Rating Service (CBRS CBRS Coastal Barrier Resources System CBRS Canadian Bond Rating Service CBRS Citizen Band Radio Service CBRS Community Building Resource Service (Australia) CBRS Computer-Based Reporting System CBRS Concept-Based Requirements System ) has upgraded the rating on the long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. of its subsidiary, Bell Mobility Cellular Inc., to B++(High) from B++. CBRS has also assigned a stable rating outlook to the debt. As support for its rating upgrade, CBRS cited Bell Mobility Cellular's strong operating and improving financial position, and its positive business outlook. Specifically, the rating service referred to the company's strong franchise area, its extensive cellular coverage and solid market share, as well as to very strong subscriber growth and effectiveness in reducing costs per subscriber, customer turnover and bad debt expenses. Said Pierre Lessard, chief financial officer of BCE Mobile and Bell Mobility Cellular, "We are very pleased that the Canadian financial community continues to recognize improvements in our operating and financial results." Earlier this year, Bell Mobility Cellular also received a 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. + rating from Standard & Poor's Corporation on its Series C and Series D 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. BCE Mobile is the Canadian leader in wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. . 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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