Still-solid incumbent position in local and long-distance services in Ontario and Quebec Strong market position in wireless as the second-largest national provider in Canada Attractive quadruple-play offering of wireline, wireless, data, and video services in incumbent footprint Broad revenue diversity among consumer and enterprise customers; improving mix of legacy versus growth revenues Improving profitability Aggressive financial policy from pending leveraged buyout High prospective financial leverage Moderate free operating cash flow potential following leveraged buyout owing to high debt levels Strong competition from cable companies offering triple/quad-play services Threat of new facilities-based entrants in wireless The ratings on Montreal-based BCE Inc. and its related entities remain on CreditWatch with negative implications, pending the completion of the company's leveraged buyout (LBO) by
