TORONTO (Standard&Poor's) April 4, 2006--Standard&Poor's Ratings Services today said it assigned its 'P-2' Canadian national scale rating to Toronto-based George Weston Ltd.'s C$200 million 4.75% cumulative perpetual preferred shares, issued pursuant to the company's C$1 billion shelf registration. The rating on this issue takes into consideration the subordinated ranking of the instrument. The proceeds of this offering will be used for debt refinancing and general corporate purposes. At the same time, Standard&Poor's affirmed its ratings on the company, including its 'A-' long-term corporate credit rating. The outlook is negative. "The ratings reflect George Weston's strong market position in food distribution through its 62% equity interest in Loblaw Companies Ltd.; its solid market presence in
