On July 4, 2007, Standard&Poor's Ratings Services said that the ratings, including the 'A-' long-term corporate credit rating, on Montreal, Que.-based telecommunications service provider BCE Inc. and its subsidiaries will remain on CreditWatch with negative implications, where they were placed April 17, 2007. The ratings remain on CreditWatch following the announcement on June 30, 2007, that BCE's board has signed a definitive agreement to be acquired by an investor group led by Toronto-based Teachers' Private Capital. The all-cash transaction values BCE at C$51.7 billion, including debt, preferred equity, and minority interests. The investor group comprises Teachers' Private Capital (52%); U.S.-based Providence Equity Partners Inc. (32%); Chicago, Ill.-based Madison Dearborn Partners (9%); and other Canadian investors (7%). The transaction
