TORONTO (Standard & Poor's) Dec. 2, 2005--Standard & Poor's Ratings Services today said that its ratings on BCE Inc. (A/Negative/A-1) are unaffected by the pending reduction in its equity stake in Bell Globemedia to 20% from 68.5%. The ratings are unaffected as insufficient information is available as to BCE's use of the expected C$1.3 billion in proceeds from the transaction, which is not expected to close until third-quarter 2006. The outlook on BCE is negative reflecting concerns with increased competition in local and long-distance phone services and BCE's leverage, which is somewhat high for the ratings category. To maintain the current ratings, it is important that BCE effectively address the increased competitive risks it is facing, as well as continue
