S&P: Manitoba Telecom view to stable

Standard & Poor's said it revised its outlook on Manitoba Telecom Services Inc. to stable from negative and affirmed all ratings, including the BBB long-term corporate credit rating, BBB unsecured debt rating and A-2 short-term rating.

"The outlook revision reflects the company's improving debt leverage after the sale of Allstream Inc.," S&P credit analyst Donald Marleau said in a news release.

S&P estimates the company's adjusted debt leverage will drop to about 2.6x in 2016, after incorporating about C$400 million of lower adjusted debt since year-end 2014 from Allstream proceeds, lower operating leases and a smaller pension deficit.

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