TORONTO (Standard&Poor's) Nov. 11, 2010--Standard&Poor's Ratings Services today said it assigned its 'BBB' debt issue rating with a recovery rating of '1' to Montreal-based Cogeco Cable Inc.'s proposed C$200 million 5.15% senior secured debentures series 2 due Nov. 16, 2020. These new debentures rank pari passu with all existing and future first-lien, senior secured indebtedness and contain total debt leverage ratio financial covenants. We rate the notes at 'BBB' (two notches higher than the corporate credit rating on Cogeco Cable), with a recovery rating of '1', indicating lenders can expect very high (90%-100%) recovery in the event of a payment default. The notes are being issued under the company's C$500 million short-form base shelf prospectus filed
