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Cott Corp. CCR Raised To 'B-' From 'CCC+' On Improved Profitability And Financial Flexibility; Outlook Stable

Published Jul 28, 2009

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Abstract:

Cott Corp.'s operating performance improved significantly in the second quarter ended June 27, 2009. We raised the long-term corporate credit rating on Cott Corp. to 'B-' from 'CCC+'. We raised the rating on the company's US$275 million senior subordinated notes one notch to 'CCC' from 'CCC-'. The '6' recovery rating is unchanged. TORONTO (Standard&Poor's) July 28, 2009--Standard&Poor's Ratings Services today said it raised its long-term corporate credit rating on Mississauga, Ont.-based Cott Corp. (Cott) to 'B-' from 'CCC+'. The outlook is stable. At the same time, we raised the debt rating on wholly owned U.S. subsidiary Cott Beverages Inc.'s senior subordinated debt to 'CCC' (one notch below the corporate credit rating on the company) from 'CCC-'.

Report Type:

Ratings Action

Ticker

BCB@CN

Issuer

Cott Corp.

GICS

Soft Drinks (30201030)

Sector

Global Issuers

Country

Canada

Region

Canada

Format:

HTML

Cott Corp. – 2009/08/12 – US$ 500.00

Summary: Cott Corp. – 2009/08/12 – US$ 225.00

Cott Corp. Upgraded To 'B' From 'B-' On Improved Operating Performance; Proposed US$200 Million Notes Rated ?B? – 2009/10/29 – US$ 150.00

Research Update: Cott Corp.'s CCR Raised To 'B' From 'B-' On Improved Operating Performance; Proposed US$200 Million Notes Rated ?B? – 2009/10/29 – US$ 225.00

Cott Corp. – 2010/04/29 – US$ 500.00

Research Update: Cott Corp. Upgraded To 'B-' From 'CCC+' On Improved Profitability And Financial Flexibility; Outlook Stable – 2009/07/28 – US$ 225.00

Cott Corp. Downgraded To 'CCC+' From 'B-' On Weakened Profit And Financial Flexibility; Outlook Stable – 2009/01/30 – US$ 150.00

Research Update: Cott Corp. Cut To 'CCC+' From 'B-' On Weakened Profit And Financial Flexibility; Outlook Stable – 2009/01/30 – US$ 225.00

Cott Corp. – 2008/09/12 – US$ 500.00

Summary: Cott Corp. – 2008/09/12 – US$ 225.00

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MLA:	S&P Global Ratings’ Credit Research. "Cott Corp. CCR Raised To 'B-' From 'CCC+' On Improved Profitability And Financial Flexibility; Outlook Stable" Jul 28, 2009. Alacra Store. May 08, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Cott-Corp-CCR-Raised-To-B-From-CCC-On-Improved-Profitability-And-Financial-Flexibility-Outlook-Stable-736370>

APA:	S&P Global Ratings’ Credit Research. (). Cott Corp. CCR Raised To 'B-' From 'CCC+' On Improved Profitability And Financial Flexibility; Outlook Stable Jul 28, 2009. New York, NY: Alacra Store. Retrieved May 08, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Cott-Corp-CCR-Raised-To-B-From-CCC-On-Improved-Profitability-And-Financial-Flexibility-Outlook-Stable-736370>

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