date:Apr 30, 2014
Britain's biggest retailer Tesco has been dealt a fresh blow today after a second ratings agency warned of a possible cut to its credit rating in the wake of its recent poor run.
Credit rating agency Standard Poor's has changed its outlook on Tesco debt from stable to negative, increasing the pressure on boss Philip Clarke.
Tesco blamed challenges in UK and Europe for a year-on-year drop in profit, which fell by 6% to 3.3 billion in 2013.
Like-for-like sales, excluding fuel, were down 3% in