Research Update: Loblaw Cos. Ltd. Affirmed At 'BBB', Outlook Stable; Liquidity Score Revised To Strong From Adequate - S&P Global Ratings’ Credit Research

Research Update: Loblaw Cos. Ltd. Affirmed At 'BBB', Outlook Stable; Liquidity Score Revised To Strong From Adequate

Research Update: Loblaw Cos. Ltd. Affirmed At 'BBB', Outlook Stable; Liquidity Score Revised To Strong From Adequate - S&P Global Ratings’ Credit Research
Research Update: Loblaw Cos. Ltd. Affirmed At 'BBB', Outlook Stable; Liquidity Score Revised To Strong From Adequate
Published Apr 21, 2017
6 pages (1760 words) — Published Apr 21, 2017
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

We are affirming our 'BBB' long-term corporate credit rating on Loblaw Cos. Ltd. and revising our assessment of its liquidity to strong from adequate. We base our revision to the liquidity assessment on our view that expected sources-to-uses of cash for Loblaw (excluding PC Bank) over the next 24 months will be 1.5x-2.0x. Contributing factors include stronger operating performance in 2016 than we had previously expected and the recent announcement that Loblaw plans to sell its gas stations business for about C$540 million. The stable outlook reflects our view that adjusted debt-to-EBITDA will be about 3x over the next couple of years. On April 21, 2017, S&P Global Ratings affirmed its 'BBB' long-term corporate credit rating on Loblaw Cos. Ltd.

  
Brief Excerpt:

...We are affirming our '###' long-term corporate credit rating on Loblaw Cos. Ltd. and revising our assessment of its liquidity to strong from adequate....

  
Report Type:

Research Update

Ticker
L@CN
Issuer
Loblaw Cos. Ltd.
GICS
Food Retail (30101030)
Sector
Global Issuers
Country
Canada
Region
Canada
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Loblaw Cos. Ltd. Affirmed At 'BBB', Outlook Stable; Liquidity Score Revised To Strong From Adequate" Apr 21, 2017. Alacra Store. May 17, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Loblaw-Cos-Ltd-Affirmed-At-BBB-Outlook-Stable-Liquidity-Score-Revised-To-Strong-From-Adequate-1836152>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Loblaw Cos. Ltd. Affirmed At 'BBB', Outlook Stable; Liquidity Score Revised To Strong From Adequate Apr 21, 2017. New York, NY: Alacra Store. Retrieved May 17, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Loblaw-Cos-Ltd-Affirmed-At-BBB-Outlook-Stable-Liquidity-Score-Revised-To-Strong-From-Adequate-1836152>
  
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