DBRS Morningstar released a commentary titled “Global Telecommunications 2023 Outlook: The Risk Is to the Downside.” Our negative outlook for global telecommunications (telecom) in 2023 reflects our view that the credit risk profiles of the telecom players in our portfolio may come under some pressure within their respective rating categories. While the utility-like nature of telecom services should support long-term demand for data and telecom services, the high level of capital intensity acros...
After an extended period of record lows, interest rates are quickly climbing. As a result, although rising interest rates may not immediately affect the telecommunications industry’s predominantly fixed-rate debt stack, they will likely influence the industry’s long-term financial flexibility.
While mid-year earnings in the Canadian telecommunications industry were solid and 2022 guidance was maintained, the sector is not completely immune to inflationary pressure, nor the impact related to an economic softening. However, structural factors within the industry and the growing integration of telecommunications services into almost all aspects of modern society are expected to mute the financial impact of these factors on the industry, particularly in the near term.
DBRS Morningstar’s Canadian Telecommunications 2022 Outlook Commentary discusses the prime factors influencing the credit outlook for the Canadian telecommunications providers, and whether these factors are expected to form a longer-term trend or are transitional.
On April 15, 2021, the Canadian Radio-television and Telecommunications Commission (CRTC) announced new rules for the Canadian mobile marketplace. The CRTC is introducing what it calls a facilities-based mobile virtual network operator access framework. This commentary examines the impact of a new competitive framework for the Canadian wireless industry.
Please refer to PDF document for more detail about our research: DBRS Morningstar Places Rogers Communications Inc.’ s Ratings Under Review with Negative Implications Following Announcement of Potential Acquisition of Shaw Communications Inc.
DBRS Limited (DBRS Morningstar) released a commentary entitled, “DBRS Morningstar Reviews ISED’s Telecom Industry Announcements,†which examines the impact of (1) the 25% mandatory price reduction on certain wireless bring-your-own-device service plans, and (2) details related to the upcoming 3500 megahertz spectrum auction.
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