Canadian broadband investments in television are credit negative, says Moody's

TORONTO - Bell Canada's purchase of CTV is the latest in a trend of broadband purchases of TV outlets that bring potential downside implications for credit quality, according to a new report from Moody's Investors Service.In the report ‘Broadband-Company Investments in Television are Credit-Negative’, Moody’s says that the acquisition means that Canadian broadband companies now control or influence up to 77% of private TV content in Canada."The recent purchases hurt the broadband companies' consolidated credit metrics and increased their cash flow volatility", said vice-president and senior credit officer, Bill Wolfe, author of the report. "While not enough to move ratings, the prospect...