Two out of three is bad for Tesco CMBS

Tom Porter

January 19, 2015 11:00 AM

Tesco 230x — London, United Kingdom. 16th April 2014 -- Tesco Supermarket brand logo sign illuminated at night. -- UK supermarket giant Tesco announced a 6 per cent fall in annual group trading profits to GBP 3.3 billion for the second year running which is blamed on falling prices and competition from discount rivals Aldi and Lidl. UK Supermarket Tesco Profits Fall Again as Sales Slide UK Supermarket Tesco Profits Fall Again as Sales Slide | Amer Ghazzal / Demotix/Demotix/Press Association Images

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.

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Tom Porter