Dominant market position as the largest communications provider in Canada Large and stable local customer base supported by its position as the incumbent telecom operator in Ontario and Quebec Continued subscriber and revenue growth in wireless and consumer data businesses Improvements in free cash flow due to revenue growth and cost containment Marginally weak financial metrics for ratings category Increased competition from other national operators Long-term threat from cable companies and other competitors offering voice over IP The ratings on Montreal, Que.-based holding company BCE Inc. reflect the consolidated credit risk of its various operating subsidiaries, but principally that of its wholly owned subsidiary, Bell Canada. The ratings on BCE are analytically consolidated and equalized with those on Bell Canada.
