Fitch rates Rogers notes BBB+

Fitch Ratings said it assigned a BBB+ rating to Rogers Communications Inc.'s two-tranche senior unsecured notes offering consisting of $850 million of 10-year notes and $650 million of 30-year notes.

The outlook is stable.

Rogers intends to use the net proceeds for general corporate purposes.

The terms and covenants of the new debt offering are virtually the same as Rogers existing debt, Fitch said.

The notes are fully and unconditionally guaranteed by the company's wholly owned subsidiary, Rogers Communications Partnership, and rank pari passu with its existing unsecured senior debt.

The ratings reflect the company's consistent operating performance during the past several years as its business segments have scaled further - both organically and through acquisitions - resulting in a higher level of profitability and cash flows, Fitch said.

The company's continued capital investment has enabled the company to deploy a high quality infrastructure in a timely manner with good diversity of service platforms to compete effectively against its mostly national peers, the agency said.

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