Relatively stable business position with modest growth in revenue and operating income; Growth in digital TV and Internet service offerings outpacing declines is basic subscribers due to competition from direct-to-home (DTH) satellite service providers; and Recent status as free cash flow positive with marginal reduction in debt expected. Somewhat weak financial risk profile characterized by high leverage; Competitive market for TV services from satellite operators and broadband services from Bell Canada; and Relatively small operator in cable and telecom industry in Canada. The ratings on Cogeco Cable Inc. reflect the company's somewhat weak financial risk profile, given the company's relatively high leverage. The company's average business position, as Canada's fourth-largest cable company, remains relatively stable despite competition from Canadian DTH
