DBRS Releases Report on CanWest MediaWorks Income Fund

DBRS has today released a report on CanWest MediaWorks Income Fund (the Fund) which provides further detail on the recent confirmation of the Fund’s rating at STA-3 (high).

DBRS confirmed the stability rating for the Fund as a result of the Fund’s continuing stable cash flow from operations, strong franchise of newspaper and digital media publications, and low capital requirements.

Despite recent softness in advertising and industry trends that include a slow decline in circulation for print media, the Fund has demonstrated moderate EBITDA growth over the latest period, driven largely by cost reductions and restructuring initiatives. DBRS believes that recent restructuring efforts are now largely complete and have become accretive to EBITDA and cash flow from operations.

To obtain a copy of the full report or the April 27, 2007, press release, please click on the link below or contact us at info@dbrs.com.