The ratings on Montreal-based BCE Inc., Canada's largest integrated telecommunications provider with about 18 million customer connections, reflect Standard&Poor's Ratings Services' opinion of the company's business risk profile, which we view as satisfactory, supported by the company's large and expanding nationwide wireless operations; leading position as the incumbent local telephone service provider in the provinces of Ontario and Quebec; broad product portfolio, including the ability to bundle voice, high-speed Internet (HSI), wireless, and video services within its incumbent markets; solid brand recognition; broad distribution; healthy diversity of revenue among business and residential customers; a business which is more resilient to economic downturns relative to other sectors, which are dependent on discretionary spending. The ratings are also supported by
