DBRS confirms Weston

DBRS said it confirmed the ratings of the notes and debentures of George Weston Ltd. at BBB, the preferred shares at pfd-3 and the commercial paper at R-2 (high).

The trend is stable.

Weston's business risk profile remains well placed in the BBB rating category based on the company's strong brands and above-average operating efficiency, according to the agency.

The stable trend reflects the expectation that Weston will continue to achieve growth in EBITDA from further brand development, operational efficiency gains and new investments, the agency said.

Weston is expected to maintain a gross debt-to-EBITDA ratio of up to 2.5 times or net debt-to-EBITDA ratio of up to 2.0x.

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