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Gold/Mining/Energy : Rogers Communication -- Ignore unavailable to you. Want to Upgrade?

To: Jadrew who wrote (93)	2/13/1998 4:52:00 PM
From: diddlysquatz	Read Replies (3) \| Respond to of 189

Today on the Dow Jones News Service: TORONTO (Dow Jones)-Canadian Bond Rating Service said it has lowered its ratings on the debt securities issued by Rogers Communications Inc. (RG) and Rogers Cantel Mobile Communications Inc., and changed its rating outlook to negative. CBRS's original rating outlook wasn't provided. In a news release, CBRS said it has revised its ratings on Rogers Communications' senior debentures and notes, convertible senior debentures and liquid yield options notes to Single C from Single B and on convertible subordinated debentures to Single C from B (low). It said a Single C rating signifies that it considered the securities to be of "speculative quality, where the company has suffered a significant deterioration in earnings and credit quality." CBRS said it has also revised its ratings on Rogers Cantel's senior notes and debentures and its senior subordinated guaranteed notes to B (low) from B (high). The ratings agency said the changes follow the release of 1997 earnings by both companies, in which they announced major restructuring and writedown charges. It said that, although the previous ratings for both companies have been in the "poor quality" rating category, the current rating changes are based on a "continuing deterioration in their credit profile." CBRS said both companies carry a negative book equity value on their balance sheets with greater total debt than at the end of 1996. Rogers Cantel is a cellular telephone company owned 80% by Rogers Communications, which has cable, wireless and publishing operations. (END) DOW JONES NEWS 02-13-98