TORONTO (Standard&Poor's) Feb. 27, 2002--Standard&Poor's today said it assigned its single-'A' senior unsecured debt rating to food-store giant Loblaw Companies Ltd.'s C$200 million 6.85% medium-term notes due 2032. At the same time, the single-'A' long-term corporate credit rating on the Toronto, Ont.-based company was affirmed. "The ratings are based on Loblaw's position as one of Canada's largest national supermarket chains. The ratings also take into account Loblaw's strong cash flow generation capability, continued strength in operating margins, and innovative and world-class private-label brand program," said John Tysall, director of the Canadian corporate ratings group. These strengths are offset by the company's high leverage, resulting from an ongoing aggressive store expansion policy. Both fourth-quarter and full-year sales
