DBRS confirms Loblaw

DBRS said it confirmed Loblaw Cos. Ltd.'s medium-term notes and debentures ratings at BBB, its cumulative redeemable second preferred shares, series A, rating at pfd-3 and its commercial paper rating at R-2 (middle).

The trend remains stable.

Ratings reflect Loblaw's strong market position, large scale and national diversification, balanced by the mature nature of the core business, the agency said.

Loblaw's financial profile has improved in line with the recovery in operating income since 2009, the agency noted.

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