On June 5, 2003, Standard&Poor's Ratings Services today said it assigned its 'A' senior unsecured debt rating to food retailer Loblaw Companies Ltd.'s C$200 million 6.05% MTN drawdown due 2034 from its C$1.0 billion base shelf registration filed May 12, 2003. At the same time, the ratings on the Toronto, Ont.-based company, including the 'A' long-term corporate credit rating, were affirmed. The outlook is stable. The ratings on Loblaw Companies reflect its leading market position in Canadian food distribution, a consistently strong operating performance, a well-regarded and innovative controlled-label program, and an asset base that consists of modern stores that have benefited from the company's traditionally heavy capital expenditure program. These factors are offset by leverage that is
