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Published on 9/13/2022 in the Prospect News Canadian Bonds Daily, Prospect News Convertibles Daily and Prospect News Investment Grade Daily.

DBRS assigns Loblaw notes BBB

DBRS said it assigned BBB (high) ratings to Loblaw Cos. Ltd.’s C$400 million of 5.008% senior unsecured notes due Sept. 13, 2032, and to its C$400 million of 5.336% senior unsecured notes due Sept. 13, 2052.

The BBB (high) ratings are based on an already-outstanding series of the above-mentioned debt instrument, the agency said.

Loblaw intends to use the proceeds to fund the redemption of its C$800 million of 4.86% medium-term notes due Sept. 12, 2023, and for general corporate purposes.


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