We expect Montreal-based cable TV services provider Cogeco Cable Inc. to temper acquisitions and focus on improving its moderately leveraged balance sheet in the near term. As such, we are affirming all ratings on Cogeco, including our 'BB+' long-term corporate credit rating on the company. At the same time, we are removing the company from CreditWatch, where it had been placed with negative implications Dec. 21, 2012. These rating actions follow Cogeco's C$670 million debt-funded purchase of Vancouver-based data center services provider, Peer 1 Networks Enterprises Inc. We are also assigning our 'BB-' issue-level rating and '6' recovery rating to the company's proposed US$400 million senior unsecured notes offering, the proceeds of which will be used to partially repay bank
