Cott Corp.'s operating performance improved significantly in the second quarter ended June 27, 2009. We raised the long-term corporate credit rating on Cott Corp. to 'B-' from 'CCC+'. We raised the rating on the company's US$275 million senior subordinated notes one notch to 'CCC' from 'CCC-'. The '6' recovery rating is unchanged. On July 28, 2009, Standard&Poor's Ratings Services raised its long-term corporate credit rating on Mississauga, Ont.-based Cott Corp. (Cott) to 'B-' from 'CCC+'. The outlook is stable. At the same time, we raised the debt rating on wholly owned U.S. subsidiary Cott Beverages Inc.'s senior subordinated debt to 'CCC' from 'CCC-'. The '6' recovery rating on the senior subordinated debt is unchanged, indicating our expectation of
