DBRS Rates Loblaw’s $350 Million New Issue BBB, Stable

DBRS has today assigned a rating of BBB with a Stable trend to Loblaw Companies Limited’s (Loblaw) issue of $350 million of Series 2-B Medium-Term Notes due June 18, 2020, pursuant to the Short Form Base Shelf Prospectus dated June 5, 2008 and the Prospectus Supplement dated May 5, 2009.

DBRS understands that the proceeds will be used to pre-fund Loblaw’s $350 million maturity in January 2011 and for general corporate purposes.

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

The applicable methodology is Rating Food Retailers, which can be found on our website under Methodologies.

This is a Corporate (Consumers) rating.