TORONTO (S&P Global Ratings) March 23, 2021--S&P Global Ratings today said that its ratings and outlook on Toronto-based holding company George Weston Ltd. (GWL; BBB/Stable/--) are unaffected by the company's recent announcement that it has launched a process to sell Weston Foods. Following a strategic review, GWL has made the decision to focus on its retail and REIT segments. Loblaw Cos. Ltd. (BBB/Stable/--) is Canada's largest food and drug retailer and generates most of GWL's consolidated revenues; GWL has an ownership interest of about 52.6% in Loblaw. Choice Properties Real Estate Investment Trust (REIT; BBB/Stable/--) is Canada's largest REIT, generating 55.6% of its gross rental revenue from Loblaw and associated banners; GWL also owns a 61.8% controlling interest in the
