The ratings on Cogeco Cable Inc. reflect the company's relatively strong business position as Canada's fourth-largest cable company, as well as its fairly moderate overall financial policy. These factors are tempered by the challenges presented in the form of growing competition in the Canadian broadcast distribution industry. For the past several years, Cogeco Cable's strategy was focused on achieving critical mass and improving the clustering of its cable systems in Ontario and Quebec. Through strategic acquisitions and system upgrades, the company has built a largely interconnected system in the Windsor-Rimouski corridor, with about 70% of its customer base in Ontario and the remainder in Quebec. Cogeco Cable serves more than 870,000 basic cable customers, representing more than 65% of the
