TORONTO (Standard&Poor's) Nov. 15, 2007--Standard&Poor's Ratings Services today said it placed its ratings, including the 'BBB+' long-term corporate credit rating, on Toronto-based retailer Loblaw Companies Ltd. on CreditWatch with negative implications. At the same time, we placed the ratings on parent company George Weston Ltd., including the 'BBB' long-term corporate credit rating, on CreditWatch with negative implications. "The CreditWatch placement follows Loblaw's announcement of its very weak third-quarter performance," said Standard&Poor's credit analyst Maude Tremblay. Despite third-quarter sales growth of 1.4% on a 1.6% same-store sales increase compared with the same quarter in 2006, reported adjusted EBITDA (excluding certain one-time charges) declined 25.4% for the quarter and 16.1% year-to-date. As a result, Loblaw's reported
