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DBRS changes trend on Loblaw to positive
DBRS Morningstar said it changed the trend on all of Loblaw Cos. Ltd.’s ratings to positive from stable.
“The trend change reflects the company’s strong business profile, stable operating performance in both food retail and pharmacy as well as improved credit metrics after the spin-out of Choice Properties Real Estate Investment Trust (CHP; rated BBB with a stable trend by DBRS Morningstar),” said the agency in a press release.
DBRS Morningstar also confirmed Loblaw’s issuer rating and medium-term notes and debentures ratings at BBB and the second preferred shares at Pfd-3.
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