DBRS Rates Shoppers Drug Mart $500 Million Note Issues at A (low)

DBRS has today assigned a rating of A (low) with a Stable trend to the following two issues of Shoppers Drug Mart Corporation:

(1) $250 million 4.80% medium-term notes due January 20, 2012.

(2) $250 million 5.19% medium-term notes due January 20, 2014.

Proceeds from the note issues will be used to refinance existing indebtedness.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodology is Rating Merchandisers, which can be found on the DBRS website under Methodologies.

This is a Corporate rating.