On June 19, 2003, Standard&Poor's Ratings Services assigned its 'A' senior unsecured debt rating to telecommunications company Bell Canada's C$3.0 billion medium-term note program dated June 18, 2003. The proceeds of any issues made under the program will be used to refinance existing debt and for general corporate purposes. At the same time, the ratings outstanding on the Montreal, Que.-based company were affirmed, including the 'A' long-term corporate credit rating. The outlook is stable. The ratings on Canada's largest telecommunications carrier, Bell Canada, are equalized with those on parent BCE, Inc., with Bell Canada expected to account for the majorities of revenue and EBITDA for the group. The ratings are underpinned by Bell's large local access and wireless
