TORONTO (Standard&Poor's) Jan. 29, 2010--Standard&Poor's Ratings Services today said it assigned its issue-level and recovery ratings to Toronto-based Corus Entertainment Inc.'s proposed C$350 million senior unsecured notes due 2017. We rate the notes 'BB' (the same as the corporate credit rating on the company), with a recovery rating of '4', indicating our expectation of average (30%-50%) recovery for noteholders in the event of a payment default. Corus will use the proceeds to refinance a portion of the company's existing debt. In addition, we assigned our 'BB' debt rating to the company's C$500 million shelf registration. The notes are being issued under the shelf registration. "The 'BB' corporate credit rating on Corus reflects what we view as
