On Feb. 13, 2003, Standard&Poor's Ratings Services said it assigned its 'P-2' Canadian national scale and its 'BBB' global scale preferred share ratings to telecommunications holding company BCE's C$150 million (six million units) cumulative redeemable first preferred shares series AC. Proceeds will be used to repay preferred shares to be redeemed by BCE. Should BCE exercise its option to purchase for cancellation its series U cumulative redeemable first preferred shares, and issue an additional C$350 million (14 million units) series AC shares, the additional shares would be assigned preliminary 'P-2' Canadian national scale and 'BBB' global preferred share scale ratings. At the same time, ratings outstanding on BCE, including the 'A' long-term corporate credit rating, were affirmed. The
