Research in Motion Ltd. (NASDAQ:BBRY) – er, BlackBerry – has had some positive reviews about its BlackBerry 10 operating system, though the company is reporting modest sales interest, at best. However, the company has secured several government contracts in recent weeks, which certainly will contribute to the company’s sales numbers in this current quarter. But, would you want your wireless carrier or company to borrow money to get its hands on BlackBerry devices? Is this OS and the handsets worth a gamble of debt?

At least one telecommunications provider certainly believes that carrying Research in Motion Ltd. (NASDAQ:BBRY) products in its markets would be worth the risk, as Telefonica – which has 315 million subscribers in 24 countries – has secured a line of credit from Export Development Canada in the amount of $256 million to allow the procurement of BlackBerry handsets and services for its expansive telecom network, centered mainly in Latin America – which will likely be a very important market for BlackBerry in its comeback attempt.

“EDC’s financing is really about making the transactions between BlackBerry and Telefónica easier, helping to enhance and broaden the relationship between these two major global players,” said Lewis Megaw, Export Development Canada regional vice president. This financing is ultimately not new; EDC has a history with Telefonica, with financing deals dating to 2006 that helped the telecom carrier secure various contracts with Research in Motion Ltd. (NASDAQ:BBRY) and now-defunct Nortel, among other Canada-based wireless telecom companies.

Based on estimates, this $256 million line of credit could secure an order for about 500,000 Research in Motion Ltd. (NASDAQ:BBRY) BlackBerry handsets – or one for about every 600 Telefonica subscribers. Worthwhile risk, or is this underselling the BlackBerry? Let us know your thoughts in the comments section.

DISCLOSURE: I own no positions in any stock mentioned.

Please see these related BBRY articles:

BlackBerry to Pull the Plug on This Popular Service

An “Exciting” BlackBerry Phone Coming Later This Year

BlackBerry Constructs a 3-year Plan to Lad This Market