Strong position in food retailing through 63%-owned Loblaw Companies Ltd. Well-recognized Weston Foods brands in Canada Heavy competition in both food retailing and processing Significant multiyear restructuring program at Loblaw Debt leverage that is consistent with the rating Large cash balances at both George Weston Ltd. and Loblaw The stable outlook on George Weston Ltd. reflects Standard&Poor's Ratings Services' expectation that the company can maintain an investment-grade rating after redeploying its cash balances. We expect George Weston will maintain leverage consistent with an investment-grade rating as it considers options to reinvest its large cash balances. A downgrade is unlikely in the absence of a major acquisition, considering the company's recently improved leverage and strong liquidity for both George
