{"id":22824,"date":"2013-08-20T20:19:18","date_gmt":"2013-08-21T00:19:18","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=22824"},"modified":"2013-08-20T20:19:18","modified_gmt":"2013-08-21T00:19:18","slug":"dbrs-concerned-about-bce","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=22824","title":{"rendered":"DBRS Concerned About BCE"},"content":{"rendered":"<p>DBRS <a href=\"http:\/\/www.dbrs.com\/research\/260011\/dbrs-comments-on-bell-canada.html\">has announced<\/a>:<\/p>\n<blockquote><p>Since DBRS\u2019s latest report on Bell Canada, Industry Canada has restated its intention of establishing four wireless carriers in each region of the country. DBRS notes that a viable fourth competitor with strong financial backing could cause the competitive environment to intensify. DBRS believes the potential implications of increased competition for the Company\u2019s operating performance and equity valuations could make less-conservative financial management more compelling for Bell Canada. In DBRS\u2019s view, the addition of a strong fourth bidder in the 700 MHz wireless spectrum auction could materially increase the price for spectrum. These factors could make it more difficult for Bell Canada to reach its intended leverage target within DBRS\u2019s stated 24-month timeframe. DBRS notes that failure by Bell Canada to deleverage as expected could result in a negative rating action.<\/p>\n<p>Furthermore, DBRS feels that a strong fourth industry player could heighten competition such that even more conservative financial management may be required for BCE Inc.\/Bell Canada\u2019s credit risk profile to remain commensurate with its current rating categories. DBRS will continue to carefully monitor the operating performance and financial management of Bell Canada, particularly in the context of an evolving competitive environment.<\/p><\/blockquote>\n<p>BCE has a large number of preferred share issues outstanding:<br \/>\nRatchet Rate: BCE.PR.B, BCE.PR.D, BCE.PR.E, BCE.PR.H, BCE.PR.J, BCE.PR.S and BCE.PR.Y<br \/>\nFixedFloater: BCE.PR.A, BCE.PR.C, BCE.PR.F, BCE.PR.G, BCE.PR.I, BCE.PR.R, BCE.PR.T and BCE.PR.Z<br \/>\nFixedReset: BCE.PR.K<\/p>\n<p>All are tracked by HIMIPref&trade;; all are consigned to the Scraps index on credit concerns.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DBRS has announced: Since DBRS\u2019s latest report on Bell Canada, Industry Canada has restated its intention of establishing four wireless carriers in each region of the country. DBRS notes that a viable fourth competitor with &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-22824","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/22824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22824"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/22824\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}