Page 4 Fixed Income Quarterly—Retailing/Consumer Products
Table 1: Canadian Retail Credit Ratings
DBRS
S&P
Moody's
Issuer:
Rating
Outlook
Rating
Outlook
Rating
Outlook
Canadian Tire BBBH George Weston BBB Loblaw BBB Metro BBB Shoppers Drug Mart 1 AL Sobeys BBBL
Stable BBB+ Stable BBB Stable BBB Stable BBB UR-Neg. BBB+ Stable BBB-
Stable nr Stable nr Stable nr Stable nr CW-Neg. nr Negative nr
1. Shoppers Drug Mart was downgraded by DBRS to BBB (Stable) on April 1, 2014 and by S&P to BBB (Stable) on April 3, 2014 As at March 31, 2014
Source: BMO Capital Markets, Credit Rating Agencies