{"id":822,"date":"2007-05-03T11:15:15","date_gmt":"2007-05-03T15:15:15","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=822"},"modified":"2007-05-03T11:15:15","modified_gmt":"2007-05-03T15:15:15","slug":"sp-downgrades-loblaw-weston","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=822","title":{"rendered":"S&P Downgrades Loblaw, Weston"},"content":{"rendered":"

S&P<\/a> has announced:<\/p>\n

it lowered its long-term corporate credit and senior unsecured debt ratings on Toronto-based Loblaw Companies Ltd. by one notch, to ‘BBB+’ from ‘A-‘. Standard & Poor’s also lowered its long-term corporate credit and senior unsecured debt ratings on parent company George Weston Ltd. by one notch, to ‘BBB’ from ‘BBB+’. In addition, the Canadian scale CP rating on George Weston was lowered to ‘A-2’ from ‘A-1(Low)’, and the preferred stock rating on George Weston was lowered to ‘P-3(High)’ from ‘P-2(Low)’. At the same time, the ratings on both companies were removed from CreditWatch with negative implications, where they were placed Feb. 8, 2007, following Loblaw’s much weaker-than-expected earnings in the fourth quarter (ended Dec. 30, 2006). The outlook on both companies is stable.<\/p><\/blockquote>\n

This follows the earlier downgrade of Loblaw by DBRS<\/a>, who have not yet announced a decision regarding Weston, and the Credit Watch Negative announcement by S&P<\/a>.<\/p>\n

Weston has the following preferred issues outstanding: WN.PR.A WN.PR.B WN.PR.C WN.PR.D & WN.PR.E<\/p>\n","protected":false},"excerpt":{"rendered":"

S&P has announced: it lowered its long-term corporate credit and senior unsecured debt ratings on Toronto-based Loblaw Companies Ltd. by one notch, to ‘BBB+’ from ‘A-‘. Standard & Poor’s also lowered its long-term corporate credit …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-822","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=822"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/822\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}