Pantera Silver Corp. press release
Rothmans Inc. confirms DBRS downgrade of RBH ratings
TSXV - TSX Venture Exchange · Silver · Gold · Oil · Natural Gas · Natural Gas Liquids · Canada
Trading: TSX: ROC
TORONTO, Oct. 25 /CNW/ - Rothmans Inc. confirmed that Dominion Bond Rating Service (DBRS) has today downgraded the ratings of its 60%-owned operating subsidiary Rothmans, Benson & Hedges Inc. (RBH) following the recent decision of the Supreme Court of Canada dismissing the constitutional challenge of the Tobacco Damages and Health Care Costs Recovery Act (British Columbia) brought by RBH and others. RBH's commercial paper debt has been downgraded to R-2 (high) from R-1 (low) and its senior unsecured debt has been downgraded to BBB(high) from A(low), with both ratings receiving a negative trend. The DBRS press release is available at www.dbrs.com. The ratings downgrade does not result in a requirement for the repayment, in whole or in part, of RBH's $150 million Series A Bonds due December 21, 2011. RBH's cash flows from its operations are sufficient to fund RBH's ongoing operations, including the interest payments on these bonds.