Standard & Poor's today said lower-than-expected revenue and EBITDA at BCE Emergis, a majority-owned subsidiary of BCE Inc. (BCE; A+/Stable/A-1), for first-quarter 2002 would not affect the ratings on BCE. Revenue guidance at BCE Emergis is expected to be between C$128.0 million-C$138.0 million due to the expectation that one-time and nonrecurring revenues will not materialize, while EBITDA is expected to be between negative C$17.0 million and negative C$22.0 million. BCE's revenue and EBITDA guidance, however, remains unchanged at C$5.1 billion-C$5.4 billion and C$1.75 billion-C$2.0 billion, respectively, because of recent actions to realign its cost structure with revenue growth, which could prove to be more challenging in the current economic climate. Despite the higher risk profile of start-up E-business service provider
