Ratings agency Moody’s on Monday said Shaw Communications issuing up to $900 million in new debt to complete to purchase of the former Canwest Global Communications TV assets will have “almost no impact on the Canadian communications firm’s leverage.”

Moody’s added a ‘stable’ outlook for Shaw Communications’ debt profile after it issued two bond issues, one for $500 million and another for $400 million last week.

“The fresh capital is expected to be channeled into paying off debt and related derivative exposure at recently acquired unit CW Media Holdings Inc, with the rest to be used for general corporate operations,” the agency noted.

“We view the transaction as approximately leverage neutral and, as there is no change in Shaw’s credit profile,” Moody’s added.

Calgary-based Shaw recently acquired Canwest Global’s TV assets and rebranded them as Shaw Media.