date:Oct 09, 2013
Moody's Investors Service has changed to negative from stable the outlook on the Baa1 long-term ratings of Tesco Plc, and its guaranteed subsidiaries.
The rating action follows Tesco's announcement of its interim results for its financial year ending February 2014.
The negative outlook on Tesco's ratings is prompted by our concerns that operational underperformance in Europe ex-UK combined with persistently soft macroeconomic growth and intensive competition will slow the improvement in the co