S&P: Cott outlook negative

Standard & Poor's said it revised its CreditWatch implications on Cott Corp. to negative from developing.

The ratings were placed on CreditWatch developing on April 16, following Cott's decision to explore its possible participation in industry consolidation, the agency said.

The change in the CreditWatch placement results from Cott having made no significant progress in this regard, even though management continues to consider this option, S&P noted.

The agency added that the CreditWatch negative placement follows Cott's announcement that it expects substantially lower operating income in 2007 compared with 2006.

© 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.