Two out of three is bad for Tesco CMBS

Tesco 230x
By Tom Porter
19 Jan 2015

Standard & Poor’s became the second ‘big three’ ratings agency to cut UK supermarket group Tesco to junk status last week, and its commercial mortgage-backed debt is suffering the consequences.

Tesco endured a torrid 2014, with its share price sliding more than 40% as it struggled to hold on to its 30% market share in the face of new competitors in the UK supermarket space.

Earlier this month the company said it was closing 43 stores and its ...

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