Videotron receives investment-grade rating from S&P Global Ratings

About this update from Quebecor Inc. Class A

Videotron receives investment-grade rating from S&P Global Ratings /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } Videotron receives investment-grade rating from S&P Global Ratings Canada NewsWire MONTRÉAL , May 6, 2024 /CNW/ - Quebecor welcomes the decision by S&P Global Ratings ("S&P") to upgrade Videotron's credit rating from BB+ to BBB-. S&P also upgraded Videotron's unsecured debt rating from BB+ to BBB-. "I am very proud to announce this important development one year after the successful acquisition of Freedom, which established Videotron as Canada's fourth major national wireless carrier," said Pierre Karl Péladeau, President and Chief Executive Officer of Quebecor. "This enviable credit rating is a significant achievement that speaks volumes about Videotron's superior operating performance, strict financial discipline and strong balance sheet. "Videotron already enjoyed an excellent reputation on financial markets, with an unblemished track record in the course of raising billions of dollars in financing since its acquisition by Quebecor Media Inc. in 2001. Receiving this BBB- rating from S&P can only improve Videotron's access to capital markets and reduce its cost of borrowing," Mr. Péladeau added. Videotron is currently rated BBB- with a stable outlook by S&P and Ba1 with a positive outlook by Moody's. A rating is not a recommendation to buy, sell or hold investments and is subject to revision or withdrawal at any time by the relevant rating agency. Cautionary statement regarding forward-looking statements The statements in this press release that are not historical facts are forward-looking statements and are subject to significant known and unknown risks, uncertainties and assumptions that could cause the Corporation's actual results for future periods to differ materially from those set forth in the forward-looking statements. Forward-looking statements may be identified by the use of the conditional or by forward-looking terminology such as the terms "plans," "expects," "may," "anticipates," "intends," "estimates," "projects," "seeks," "believes," or similar terms, variations of suc...

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