S&P cuts Call-Net, notes to B-

Standard & Poor's said it lowered its ratings on Call-Net Enterprises Inc. to B- from B on continued pricing pressures in long distance and expectations for increased competition in residential local services beginning in 2005.

At the same time, S&P lowered the ratings on Call-Net's 10 5/8% notes due December 2008. The outlook remains negative.

To date, S&P said Call-Net has been able to largely offset pricing pressures in its long-distance segment through growth in local services and bundling of local with long-distance services.

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