DBRS confirms Metro

DBRS said it confirmed the senior unsecured debt rating of Metro Inc. at BBB and its commercial-paper rating at R-2 (high).

The trend is stable.

Metro continues to benefit from its strong market positions in Ontario and Quebec despite intense competition, DBRS said.

Revenue in the last 12 months that ended in the third quarter of 2011 was flat, at $11.3 billion, as compared with the first half of 2010 on the basis of relatively flat same-store sales, the agency said.

Increased penetration of promotional items and lower generic drug prices due to regulatory reforms combined to offset food-price inflation, DBRS said.

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