BCE Inc./Bell Canada: Rating Report

On March 31, 2023, DBRS Limited (DBRS Morningstar) confirmed BCE Inc.’s (BCE or the Company) Issuer Rating, Short-Term Issuer Rating, Unsecured Debentures rating, and All Classes Preferred Shares rating as well as the ratings of Bell Canada and Bell-MTS Inc. (the wholly owned subsidiary). All trends remain Stable, reflecting the Company's ability to drive total net subscriber growth, while also acknowledging the strategic importance of the current network fibre and 5G/5G+ investment cycle that is expected to support long-term earnings growth.