...May 29, 2024 - S&P Global Ratings assesses Loblaw Cos. Ltd. (Loblaw) as a core entity of its major shareholder, George Weston Ltd. (GWL), and as a result, equalizes the rating on Loblaw with that on GWL. - Following our upgrade on GWL on May 29, 2024, we also raised our long-term issuer credit rating on Loblaw to '###+' from '###'. - In addition, we raised our issue-level ratings on the company's unsecured debt to '###+' from '###'. We also raised our ratings on various debt issued by Loblaw (see Ratings List). - Our '###+' stand-alone credit profile (SACP) on Loblaw is unchanged. - The stable outlook on Loblaw reflects S&P Global Ratings' expectation that the consolidated adjusted debt-to-EBITDA ratio will be about 2.5x for parent GWL over the next two years, supported by Loblaw's steady profitability. TORONTO (S&P Global Ratings) May 29, 2024--S&P Global Ratings today took the rating actions listed above. Loblaw's consistently strong food retail operating performance highlights the strength...
