On Feb. 14, 2002, Standard&Poor's assigned its corporate credit, bank loan, and subordinated debt ratings to Corus Entertainment Inc. The ratings reflect Corus' well-diversified business mix, as indicated by its number-one Canadian radio market position; the strength of its broadcast assets, particularly children's specialty television; and the company's production and content strengths in animated children's programming following its acquisition of Nelvana Ltd. The ratings also reflect a favorable regulatory regime, particularly in the Canadian specialty television industry. These factors are offset by an acquisition-driven growth strategy that resulted in relatively high debt levels. Immediate concerns about Corus' debt level are mitigated by asset divestitures expected in 2002. Toronto, Ont.-based Corus is a leading Canadian media and entertainment company
