On March 27, 2009, Standard&Poor's Ratings Services removed the ratings on Toronto-based George Weston Ltd., including the 'BBB' long-term corporate credit rating, from CreditWatch with negative implications where they were placed Dec. 5, 2008. At the same time, we affirmed all ratings on the company. The outlook is stable. The rating affirmation follows Standard&Poor's analysis of George Weston's important market position in the retail industry through its 62% owned subsidiary Loblaw Companies Ltd. (BBB/Negative/--), as well as its likely capital structure and financial risk profile in the medium term following the redeployment of sales proceeds from the company's US$2.5 billion divestiture of its U.S. fresh baking assets. On Jan. 21, 2009, George Weston, through its subsidiary
