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 Shaw Communications Inc.’ s Ratings Under Review with Developing Implications Following Announcement of Potential Acquisition by Rogers 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.
$300 million of new debt instruments rated. Toronto, February 14, 2017-- Moody's Investors Service, assigned a Baa3 rating to Shaw Communications Inc.' s new $300 million 10- year senior unsecured notes offering. The transaction has no ratings implications as Moody's expects the proceeds, along with cash on hand, will repay the company's March 2, 2017 $400 million debt maturity, leaving credit metrics virtually unchanged.
CORPORATES CREDIT OPINION 2 February 2017 Update RATINGS Shaw Communications Inc. Domicile Alberta, Canada Long Term Rating Baa3 Type Senior Unsecured - Dom Curr Outlook Stable Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Bill Wolfe 416-214-3847
Approximately $4.9 billion of rated debt affected. Toronto, January 31, 2017-- Moody's Investors Service, affirmed Shaw Communications Inc.' s Baa3 senior unsecured ratings and maintained the company's stable ratings outlook. "Shaw's rating and outlook were affirmed as the company will maintain reasonable leverage while managing major transition and spending risks in its wireline business and growing its new wireless business," said Bill Wolfe, Moody's Senior...
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