On Feb. 8, 2005, Standard&Poor's Ratings Services assigned its 'A' rating to Bell Canada's C$700 million MTN debentures due 2017. Proceeds will be used for refinancing existing debt and for general corporate purposes. At the same time, Standard&Poor's affirmed its 'A' long-term corporate credit rating on BCE Inc. and wholly owned subsidiary Bell Canada. The outlook for both companies is stable. The ratings on Montreal, Que.-based telecommunications holding company BCE Inc. reflect the consolidated credit risk of its various operating subsidiaries, but principally that of its wholly owned subsidiary, Bell Canada. The ratings on BCE are analytically consolidated and equalized with those on Bell Canada. The ratings on BCE and Bell Canada reflect the above-average business
