TORONTO (Standard&Poor's) Aug. 10, 2005--Standard&Poor's Ratings Services today said it revised its outlook on the leading supplier of retailer-branded soft drinks Cott Corp., to negative from stable. At the same time, Standard&Poor's affirmed its 'BB' long-term corporate credit and 'B+' subordinated debt ratings on the company. "The outlook revision follows Cott's recent announcement of its acquisition of 100% of the shares of U.K.-based Macaw (Holdings) Ltd., the parent company of Macaw (Soft Drinks) Ltd. for about US$135 million," said Standard&Poor's credit analyst Lori Harris. "The negative outlook also reflects Cott's weaker-than-expected financial performance in first-half 2005 as evidenced by the 23% drop in reported operating income during this time," Ms. Harris added.
