TORONTO (Standard&Poor's) Feb. 9, 2012--Standard&Poor's Ratings Services today said it assigned its 'BBB' debt rating, and '1' recovery rating, to Montreal-based Cogeco Cable Inc.'s proposed C$200 million 4.925% senior secured debentures series 3, due Feb. 14, 2022. 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 '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 default. The notes are being issued under the company's C$750 million short-form base shelf prospectus filed Dec. 16, 2010. We understand that
