S&P puts Loblaw on watch

Standard & Poor's said it placed Loblaw Cos. Ltd.'s BBB+ long-term corporate credit rating and parent George Weston Ltd.'s BBB long-term corporate credit rating on CreditWatch with negative implications.

The watch follows Loblaw's weak third-quarter performance.

S&P said it expects full-year results to be below expectations because of the magnitude of the company's challenges, including lower profitability, the need to restructure its supply chain and store network and its ongoing restructuring charges.

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