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ROGERS CABLESYSTEMS $150 MILLION SENIOR SECURED DEBENTURES 'BBB-' By FITCH -- FITCH FINANCIAL WIRE

 ROGERS CABLESYSTEMS $150 MILLION SENIOR SECURED DEBENTURES
 'BBB-' By FITCH -- FITCH FINANCIAL WIRE
 NEW YORK, Aug. 24 /PRNewswire/ -- Rogers Cablesystems Limited's new issue of $150 million senior secured second priority debentures due 2012 are rated 'BBB-' by Fitch. The company's outstanding $250 million 'BBB-' senior secured second priority notes due 2002 are affirmed. Proceeds from the sale will be used to repay inter-company debt owed to affiliated companies. The rating reflects the company's stable cash flows, strong demand for cable service in Canada, and a positive outlook for the cable industry overall while recognizing the company's comparatively high leverage. The credit trend is stable.
 Within Rogers' franchise area, subscriber penetration has consistently exceeded 86 percent, showing a very high degree of stability. The strong demand for cable television in Canada is a direct result of the need for enhanced reception and the comparatively limited amount of available network programming in Canada.
 The company has already invested a substantial amount on fiber optic rebuilds and will require external funds to finance its continuing plant rebuild program. As a result, leverage is expected to remain at current levels over the next few years.
 Rogers Cablesystems Limited is Canada's largest cable television company, serving more than 1.8 million basic subscribers, representing approximately 24 percent of all cable television subscribers in Canada. The company is a wholly owned subsidiary of Rogers Communications Inc., (Toronto: RCI.A; RCI.B) a publicly traded Canadian communications company.
 -0- 8/24/92
 /CONTACT: Keith B. Foley of Fitch, 212-908-0572/
 (RCI.) CO: Rogers Cablesystems Limited ST: IN: ENT SU: RTG


SB -- NY068 -- 2662 08/24/92 15:10 EDT
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Publication:PR Newswire
Date:Aug 24, 1992
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