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Moody's, Standard & Poor's Issue Tesco Credit Warning
date:Apr 30, 2014
the three months to February 2014, despite hundreds of millions of pounds pumped into store refurbishments, a brand refresh and heavy discounting.

The outlook revision reflects a greater decline in Tesco's like-for-like sales in the UK than we anticipated, and lower profitability across its retail operations, said SP.

Moody's, another credit rating agency, also warned that it is considering cutting the credit rating of the the world's second largest retailer.

Moody's move was prompted by a s

12/25 00:59