TORONTO (Standard&Poor's) Feb. 8, 2007--Standard&Poor's Ratings Services today said it placed its ratings, including its 'A-' long-term corporate credit rating, on Toronto-based retailer Loblaw Companies Ltd. on CreditWatch with negative implications, meaning that the ratings could be lowered or affirmed following the completion of our review. At the same time, Standard&Poor's placed its ratings, including its 'BBB+' long-term corporate credit rating, on parent company George Weston Ltd. on CreditWatch with negative implications. "The CreditWatch placement reflects the magnitude of challenges faced by Loblaw," said Standard&Poor's credit analyst Don Povilaitis. These challenges include substantially lower profitability, supply chain difficulties, significant senior management changes, a new corporate structure which involves substantially reducing the number
