We are removing our ratings on Loblaw Cos. Ltd., George Weston Ltd. (GWL), and Choice Properties Real Estate Investment Trust from CreditWatch, where they were placed with negative implications July 16, 2013. At the same time, we are affirming our 'BBB' ratings on all three companies. GWL and Choice Properties are Loblaw's parent and subsidiary, respectively. We are also keeping our ratings on Shoppers Drug Mart Corp. on CreditWatch with negative implications (where they were placed July 16), as we expect to equalize our 'BBB+' rating on Shoppers with our 'BBB' rating on Loblaw upon completion of Loblaw's acquisition of Shoppers and remove Shoppers from CreditWatch. The stable outlook on Loblaw and its parent and subsidiary reflects our expectation that
