Sobeys Inc.: Rating Report

On July 4, 2019, DBRS Limited (DBRS) upgraded the Issuer Rating and Senior Unsecured Debt rating of Sobeys Inc. (Sobeys or the Company) to BBB (low) from BB (high). DBRS also changed the trends to Stable from Positive. As the rating on the Senior Unsecured Debt is now investment grade, the recovery rating is no longer applicable. The rating actions reflect the Company’s very strong operating performance in Q4 F2019, well above DBRS’s forecast, and the expectation that this recovery is sustainable going forward.