Research Update: Loblaw Cos. Ltd. Upgraded To 'BBB+' From ' BBB' Following Upgrade On Parent George Weston Ltd.; Outlook Stable - S&P Global Ratings’ Credit Research

Research Update: Loblaw Cos. Ltd. Upgraded To 'BBB+' From ' BBB' Following Upgrade On Parent George Weston Ltd.; Outlook Stable

Research Update: Loblaw Cos. Ltd. Upgraded To 'BBB+' From ' BBB' Following Upgrade On Parent George Weston Ltd.; Outlook Stable - S&P Global Ratings’ Credit Research
Research Update: Loblaw Cos. Ltd. Upgraded To 'BBB+' From ' BBB' Following Upgrade On Parent George Weston Ltd.; Outlook Stable
Published May 29, 2024
7 pages (3205 words) — Published May 29, 2024
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings assesses Loblaw Cos. Ltd. (Loblaw) as a core entity of its major shareholder, George Weston Ltd. (GWL), and as a result, equalizes the rating on Loblaw with that on GWL. Following our upgrade on GWL on May 29, 2024, we also raised our long-term issuer credit rating on Loblaw to 'BBB+' from 'BBB'. In addition, we raised our issue-level ratings on the company's unsecured debt to 'BBB+' from 'BBB'. We also raised our ratings on various debt issued by Loblaw (see Ratings List). Our 'bbb+' stand-alone credit profile (SACP) on Loblaw is unchanged. The stable outlook on Loblaw reflects S&P Global Ratings' expectation that the consolidated adjusted debt-to-EBITDA ratio will be about 2.5x for parent GWL over

  
Brief Excerpt:

...- S&P Global Ratings assesses Loblaw Cos. Ltd. (Loblaw) as a core entity of its major shareholder, George Weston Ltd. (GWL), and as a result, equalizes the rating on Loblaw with that on GWL. - Following our upgrade on GWL on May 29, 2024, we also raised our long-term issuer credit rating on Loblaw to '###+' from '###'. - In addition, we raised our issue-level ratings on the company's unsecured debt to '###+' from '###'. We also raised our ratings on various debt issued by Loblaw (see Ratings List). - Our '###+' stand-alone credit profile (SACP) on Loblaw is unchanged. - The stable outlook on Loblaw reflects S&P Global Ratings' expectation that the consolidated adjusted debt-to-EBITDA ratio will be about 2.5x for parent GWL over the next two years, supported by Loblaw's steady profitability....

  
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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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Loblaw Cos. Ltd. Upgraded To 'BBB+' From ' BBB' Following Upgrade On Parent George Weston Ltd.; Outlook Stable" May 29, 2024. Alacra Store. May 16, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Loblaw-Cos-Ltd-Upgraded-To-BBB-From-BBB-Following-Upgrade-On-Parent-George-Weston-Ltd-Outlook-Stable-3187472>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Loblaw Cos. Ltd. Upgraded To 'BBB+' From ' BBB' Following Upgrade On Parent George Weston Ltd.; Outlook Stable May 29, 2024. New York, NY: Alacra Store. Retrieved May 16, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Loblaw-Cos-Ltd-Upgraded-To-BBB-From-BBB-Following-Upgrade-On-Parent-George-Weston-Ltd-Outlook-Stable-3187472>
  
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