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US: Cott Corp. outlook revised upwards

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Cott Corp. has had its outlook revised by Standard & Poor's Rating Services. S&P today shifted its outlook on the Toronto-based soft drinks company to positive from stable, whilst reaffirming its BB long-term corporate credit and B+ subordinated debt ratings.
As of 3 July, total debt outstanding was about US$362m.

Lori Harris, Standard & Poor's credit analyst, said: "The outlook revision reflects the company's improving financial profile. Cott's operating performance and credit protection measures strengthened for the 12 months ended 3 July 2004, despite a challenging competitive environment."

The positive outlook on Cott reflects S&P's expectation that the company will continue its acquisitive and internal growth strategy to enhance its manufacturing capacity.


Sectors: Soft drinks

Companies: Cott Corporation

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