Volatility of profits and credit protection measures due to maturity of category and actions of larger competitors Narrow product portfolio Customer concentration Seasonal sales Intense competition Improved operating performance, liquidity, and credit measures Leading global manufacturer of retailer brand (private label) soft drinks The ratings on Mississauga, Ont.-based Cott Corp. reflect what Standard&Poor's Ratings Services considers the company's vulnerable business risk profile stemming from a narrow product portfolio, customer concentration, and small size in a sector dominated by companies with substantially greater financial resources and market presence. Furthermore, Cott's improved financial performance might not be sustainable as it depends on the competitive actions of larger players, among other things. In addition, a significant reduction in business with its
