The ratings on Cogeco Cable Inc. are supported by the company's stable business risk profile, offset somewhat by the company's aggressive financial risk profile. Leverage and other key credit measures are consistent with the current rating and are not expected to improve materially over the near term. Although credit metrics for Cogeco's core business could improve modestly over the medium term, the uncertainty created by Cogeco management's stated desire to pursue a sizable international acquisition increases credit risk. Given that debt is likely to form a large component of any acquisition, Standard&Poor's Ratings Services notes that the ratings on Cogeco as well as outlook could be negatively affected. Pending this development, and with the uncertainty around the timing,
