On Feb. 8, 2007, Standard&Poor's Ratings Services placed its ratings, including its 'A-' long-term corporate credit rating, on Toronto-based retailer Loblaw Companies Ltd. on CreditWatch with negative implications, meaning that the ratings could be lowered or affirmed following the completion of our review. At the same time, Standard&Poor's placed its ratings, including its 'BBB+' long-term corporate credit rating, on parent company George Weston Ltd. on CreditWatch with negative implications. The CreditWatch placement reflects the magnitude of challenges faced by Loblaw, including substantially lower profitability, supply chain difficulties, significant senior management changes, a new corporate structure which involves substantially reducing the number of employees at head office, and a material goodwill impairment charge. Loblaw's fourth-quarter results (ended
