Strong position in food and drug retailing through its ownership of Loblaw Cos. Ltd. and Shoppers Drug Mart Corp. Well-recognized Weston Foods brands in Canada Heavy competition in both food retailing and processing Continuing systems investments at Loblaw that will coincide with the integration of Shoppers Consolidated debt leverage that is consistent with a "significant" financial risk profile Good free cash flow available to reduce acquisition debt Strong liquidity and good financial flexibility The stable outlook on George Weston Ltd. reflects Standard&Poor's Ratings Services' expectation that the combined competitive positions of Loblaw, Shoppers, and Weston Foods should contribute to solid profitability and good free cash flow, which will counterbalance high consolidated leverage after the Shoppers acquisition. George Weston's
