We are affirming our 'BB+' long-term corporate credit rating on Cogeco Communications Inc. We are also revising our liquidity modifier on Cogeco Communications to strong from adequate. The stable outlook reflects our view that Cogeco's stable revenues and EBITDA, pro forma the MetroCast acquisition, should improve debt-to-EBITDA close to 3.0x through fiscal 2019. On Dec. 14, 2017, S&P Global Ratings affirmed its 'BB+' long-term corporate credit rating on Montreal-based Cogeco Communications Inc. The outlook is stable. S&P Global Ratings also affirmed its 'BBB-' issue-level rating, with a '1' recovery rating, on the company's secured debt, and its 'BB-' issue-level rating, with a '6' recovery rating, on Cogego Communications' unsecured debt. The '1' recovery rating indicates our expectation of very high
