Strong market positions in food distribution (Loblaw Companies Ltd.) and food processing (Weston Foods) Significant brand equity High-quality store portfolio World-class, controlled-label program under President's Choice brand Credit ratios weak for ratings Weakness in performance at Loblaw Somewhat limited growth potential in Canadian food distribution Highly competitive operating environment for both food distribution and processing The ratings on George Weston Ltd. reflect the company's strong market position in food distribution through its 62% equity interest in Loblaw Companies Ltd. (Loblaw; BBB+/Watch Neg/--), its solid market presence in food processing through its wholly owned Weston Foods baking and dairy operations, and the financial flexibility afforded by its liquid Loblaw holdings. These factors are partially offset by George Weston's credit protection measures,
