DBRS Rates Manitoba Telecom’s $200 Million Notes Issue BBB, Stable Trend

DBRS has today assigned a rating of BBB to Manitoba Telecom Services Inc.’s (MTS) $200 million medium-term notes issue (the Notes). The trend is Stable.

The 5.625% December 16, 2019 issuance, which is expected to settle on or about December 14, 2009, was made under MTS’s $500 million shelf prospectus dated October 16, 2009. The Notes will be direct, unsecured obligations of MTS, ranking pari passu with all of MTS’s current and future unsubordinated indebtedness.

DBRS expects MTS to use the proceeds from this Notes issue for general corporate purposes including debt refinancing.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodology is Rating Telecommunications, which can be found on our website under Methodologies.

This is a Corporate (Telecommunications) rating.