...The affirmation and Stable Outlook are supported by Marks and Spencer Group plc's (M&S) strong brand name, stable customer base, large scale, reputation for high quality in food as well as stable credit metrics, including leverage. The UK retailing environment is, however, experiencing an unprecedented number of challenges, from online competitors to Brexit uncertainties. Management has recognised these issues and is now carrying out a transformation plan, which we believe should maintain M&S's competitiveness and overall profitability....