DBRS confirms Shoppers

DBRS said it confirmed the senior unsecured debt rating of Shoppers Drug Mart Corp. at A (low) and commercial-paper rating at R-1 (low).

The trend is stable.

The ratings reflect the company's strong and stable financial profile in combination with adequate operating performance, particularly in light of continued pressure from generic drug pricing reforms across Canada, DBRS said.

The ratings continue to be based on its strong market positions and brand name, improving private-label penetration and favorable industry trends, DBRS said.

The ratings also reflect the continued pressure from provincial drug pricing reforms, the agency said, and intense competition in the front-store and the pharmacy.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.