DBRS Releases Report on Bell Canada

DBRS has today released a report on Bell Canada (the Company) that provides further detail on the recent confirmation of the Company’s ratings at A (low) and R-1 (low) with a Stable trend.

Bell Canada’s ratings reflect: (a) a good business risk profile that is manageable in a competitive operating environment with improvement in its networks and operating platforms in recent years strengthening its competitive position; (b) the acquisition of the 85% of CTVglobemedia Inc. and its television, digital media and radio businesses that it or BCE Inc. did not own; and (c) a reasonable financial risk profile that, after improving in recent years, will weaken slightly in the near term with slightly higher leverage following the acquisition of CTVglobemedia Inc.

Today’s report and the March 21, 2011, press release are available at www.dbrs.com.