LONDON (Standard&Poor's) Sept. 7, 2015--Standard&Poor's Ratings Services said today that its ratings and outlook on Tesco PLC (BB+/Stable/B) are unchanged, for now, by the group's announcement of the proposed sale of its Homeplus business in the Republic of Korea. We understand that Tesco expects to reduce its total indebtedness by over £4.2 billion from net cash proceeds and associated reductions in capitalized lease and other commitments. Management plans to complete the disposal in the fourth quarter of this calendar year, depending on Tesco shareholder approval and regulatory approvals in the Republic of Korea. We consider the sale of Homeplus as a demonstration of management's commitment to reducing the group's debt and strengthening its balance sheet. The
