DBRS Raises Debt Rating for Groupe Videotron Ltee.MONTREAL--(BUSINESS WIRE)--May 20, 1999-- Le Groupe Videotron Ltee (GVL GVL - Graphical View Language. A visual language for specifying interactive graphical output by T.C.N. Graham & J.R. Cordy, Queen's University, Canada. ["GVL: A Graphical, Functional Language for the Specification of Output in Programming Languages", J.R. Cordy & T.C.N. )(ME:VDO.) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :VDO.) announces that the Dominion Bond Rating Service Dominion Bond Rating Service is a credit rating agency based in Toronto, Ontario. Founded in 1976, it is one of the largest credit rating agencies in Canada. It is one of five Nationally Recognized Statistical Rating Organizations in the United States, though significantly smaller (DBRS DBRS Dominion Bond Rating Service ) has assigned the BBB- rating to the Company's Senior Notes maturing in 2005, an increase compared to the previous BB+ rating. In addition, DBRS confirmed its 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 for the Senior Notes issued by Videotron ltee, a GVL subsidiary. "We are very pleased with this improvement in GVL's debt rating, which recognizes the health and strength of our balance sheet and reinforces our determination to stay the course with rigorous financial management policies," said Alain Michel, Senior Vice- President and Chief Financial Officer of Groupe Videotron. Le Groupe Videotron ltee is an international communications company. Its subsidiaries in Canada offer services in cable television, telecommunications, broadcasting, remote surveillance and interactive multimedia development. In the United States, the Company owns a private cable television and telephony company. Videotron, which celebrates its 35th anniversary this year, became a leader in information highway development through the know-how acquired with the Videoway multimedia system and its integrated cable/telephony experience in the United Kingdom. The Company's annual revenues exceed $1 billion and it has approximately 5,000 employees. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion