The ratings on Mississauga, Ont.-based Cott Corp. reflect what Standard&Poor's Ratings Services considers the company's vulnerable business risk profile stemming from its small size in a sector dominated by companies with substantially greater financial resources and market presence; customer concentration; susceptibility to commodity cost swings; and integration risks related to its Cliffstar Corp. acquisition last summer. We believe these factors are partially offset by Cott's credit protection measures, which are good for the ratings; and leading market positions in private label take-home carbonated soft drinks (CSDs) in the U.S., the U.K., and Canada, as well as shelf stable juices with the addition of Cliffstar in the U.S. and Canada. Cott acquired privately held Dunkirk, N.Y.-based Cliffstar Corp., the
