LONDON -- Standard&Poor's CreditWire 5/30/97 -- Standard&Poor's today has affirmed its long and short-term ratings of Marks&Spencer PLC (M&S) and related entities (see list below). The outlook is stable. The ratings reflect M&S's solid business and financial profile as one of the U.K.'s leading retailers as evidenced by the group's above average profitability, strong cash flow generation, and low, lease adjusted net debt. Sales for the year ended March 31, 1997 were about UK7.8 billion ($12.6 billion) and operating profits (before depreciation and amortization) were UK1.2 billion. M&S's sales and profits are highly concentrated in retail sales of clothing, food, and home furnishings in the U.K. market (81% of sales and 91% of operating
