On Oct 2, 2007, Standard&Poor's Ratings Services revised its CreditWatch implications on Toronto-based beverage provider Cott Corp. to negative from developing. The ratings were placed on CreditWatch developing on April 16, 2007, following Cott's decision to explore its possible participation in industry consolidation. The change in the CreditWatch placement results from Cott having made no significant progress in this regard, even though management continues to consider this option. The CreditWatch negative placement follows Cott's announcement that it expects substantially lower operating income in 2007 compared with 2006. The effects of volume declines in key carbonated soft drink markets and of higher raw material costs have precipitated this revision to operating income. Furthermore, the company remains stressed as reflected
