On June 14, 2005, Standard&Poor's Ratings Services revised its outlook on Corus Entertainment Inc. to stable from negative and affirmed its other ratings on the company, including its 'BB' long-term corporate credit rating. Total debt outstanding was C$604 million at Feb. 28, 2005. The outlook revision reflects our expectation that Corus Entertainment's continued strength in its core operations and resulting solid free cash flow will enable the company to sustain its improved credit ratios. Although small acquisitions will likely continue to play a role in the company's growth strategy, we believe management can accomplish its growth objectives while maintaining credit measures in line with the rating category. The ratings on Corus Entertainment reflect the company's aggressive financial profile,
