On Feb. 10, 2009, Standard&Poor's Ratings Services raised its long-term corporate credit ratings on Montreal-based telecommunications holding company BCE Inc. and its principal operating subsidiary, Bell Canada, three notches to 'BBB+' from 'BB+'. At the same time, we removed the ratings from CreditWatch with positive implications where they were placed Dec. 12, 2008, following the company's announcement that its leveraged buyout (LBO) will not proceed. The outlook is stable. The rating action affects about C$7.1 billion of combined debt at BCE and Bell Canada as well as C$2.77 billion of BCE preferred shares. Based on Standard&Poor's criteria for notching investment-grade debt, we have raised the issue-level rating on C$6.2 billion of Bell Canada's senior unsecured debt
