METRO INC.: Rating Report

On December 15, 2022, DBRS Limited (DBRS Morningstar) changed the trends on METRO INC.’s (Metro or the Company) Issuer Rating and Senior Unsecured Debt rating to Positive from Stable and confirmed the ratings at BBB. The trend changes reflect the gradual strengthening of Metro’s business risk profile since before the successfully integrated acquisition of Jean Coutu, which closed in 2018, as evidenced by the Company’s long-term track record of consistent same-store sales growth and margin expansion.