TORONTO (Standard&Poor's CreditWire) April 28, 2000--Standard&Poor's today affirmed its double-'B'-minus corporate credit and single-'B'-plus senior unsecured debt ratings on Cott Corp. The outlook remains negative. Despite significant operating and financial improvements in 1999, Cott's financial profile remains relatively weak for the rating category. In the past year, the company refocused on key businesses in its core markets; however, restructuring will not be fully completed until 2001. The ratings reflect Cott's business position in its core markets, limited pricing power against national brands, dependence on key customers despite geographic diversity, and high debt levels. Cott has been actively restructuring since new management was installed in mid-1998. In 1999, the company eliminated marginal product lines, increased the quality
