Standard & Poor’s rating agency has put its BBB- rating on Tesco Plc on CreditWatch negative.
The rating agency said it expects profitability at the company to continue to weaken given the highly competitive nature of the market, with the possibility that that could increase over the next year.
S&P said it would consider “the effect of any management actions to improve the group’s financial risk profile.”
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The Guardian, p. 32
