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Cogeco Communications Inc. Affirmed At 'BB+', Outlook Stable; Liquidity Revised To Strong From Adequate

Published Dec 14, 2017

4 pages (1616 words) — Published Dec 14, 2017

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Abstract:

We are affirming our 'BB+' long-term corporate credit rating on Cogeco Communications Inc. We are also revising our liquidity modifier on Cogeco Communications to strong from adequate. The stable outlook reflects our view that Cogeco's stable revenues and EBITDA, pro forma the MetroCast acquisition, should improve debt-to-EBITDA close to 3.0x through fiscal 2019. TORONTO (S&P Global Ratings) Dec. 14, 2017--S&P Global Ratings today said it affirmed its 'BB+' long-term corporate credit rating on Montreal-based Cogeco Communications Inc. The outlook is stable. S&P Global Ratings also affirmed its 'BBB-' issue-level rating, with a '1' recovery rating, on the company's secured debt, and its 'BB-' issue-level rating, with a '6' recovery rating, on Cogego Communications' unsecured debt. The '1' recovery rating indicates

Brief Excerpt:

...+ We are affirming our '##+' long-term corporate credit rating on Cogeco Communications Inc. + We are also revising our liquidity modifier on Cogeco Communications to strong from adequate. + The stable outlook reflects our view that Cogeco's stable revenues and EBITDA, pro forma the MetroCast acquisition, should improve debt-to-EBITDA close to 3.0x through fiscal 2019. TORONTO (S&P Global Ratings) Dec. 14, 2017--S&P Global Ratings today said it affirmed its '##+' long-term corporate credit rating on Montreal-based Cogeco Communications Inc. The outlook is stable. S&P Global Ratings also affirmed its '###-' issue-level rating, with a '1' recovery rating, on the company's secured debt, and its '##-' issue-level rating, with a '6' recovery rating, on Cogego Communications' unsecured debt. The '1' recovery rating indicates our expectation of very high (90%-100%, rounded estimate 95%) recovery, and the '6' recovery rating indicates our expectation of negligible (0%-10%, rounded estimate 0%)...

Report Type:

Ratings Action

Ticker

CCA@CN

Issuer

Cogeco Communications Inc.

Sector

Global Issuers

Country

Canada

Region

Canada

Format:

PDF

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Bulletin: Cogeco Communications Inc.'s U.S. Subsidiary?s US$1.15 Billion Acquisition Keeps Credit Metrics In Line With Ratings – 2021/07/13 – Free

Research Update: Cogeco Communications Inc. Affirmed At 'BB+', Outlook Stable; Liquidity Revised To Strong From Adequate – 2017/12/14 – US$ 225.00

Bulletin: Cogeco Communications Inc. Ratings Are Unaffected By Subsidiary's Announced Acquisition – 2017/07/10 – Free

Research Update: Cogeco Communications Inc.'s Senior Secured Debt Downgraded To 'BBB-' From 'BBB'; Off UCO On Updated Recovery Criteria – 2016/12/14 – US$ 225.00

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MLA:	S&P Global Ratings’ Credit Research. "Cogeco Communications Inc. Affirmed At 'BB+', Outlook Stable; Liquidity Revised To Strong From Adequate" Dec 14, 2017. Alacra Store. May 17, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Cogeco-Communications-Inc-Affirmed-At-BB-Outlook-Stable-Liquidity-Revised-To-Strong-From-Adequate-1969788>

APA:	S&P Global Ratings’ Credit Research. (). Cogeco Communications Inc. Affirmed At 'BB+', Outlook Stable; Liquidity Revised To Strong From Adequate Dec 14, 2017. New York, NY: Alacra Store. Retrieved May 17, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Cogeco-Communications-Inc-Affirmed-At-BB-Outlook-Stable-Liquidity-Revised-To-Strong-From-Adequate-1969788>

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