Toronto-based Corus Entertainment Inc. plans to issue new senior unsecured notes to refinance existing notes. We are assigning our 'BB+' issue-level rating and '3' recovery rating to the company's proposed senior unsecured notes of up to C$600 million due 2020. In addition, we are assigning our 'BB+' preliminary debt rating to the company's C$1 billion shelf registration. The notes are being issued under the shelf registration. We are also affirming our ratings on Corus, including our 'BB+' long-term corporate credit rating on the company. The stable outlook on Corus reflects our expectation that the company will retain solid market positions in its core businesses and will pursue a financial policy and growth strategy in line with the ratings. On Feb.
