(Editor's note: This release, originally issued on Jan. 22, 2003, has been republished to amend the misstated corporate credit ratings on Safeway PLC in paragraph two. A corrected version follows.) LONDON (Standard&Poor's) Jan. 23, 2003--Standard&Poor's Ratings Services said yesterday it placed its ratings on U.K.-based food retailer Tesco PLC on CreditWatch with negative implications, including its long-term 'A+' and short-term 'A-1' corporate credit ratings. The rating action follows the announcement made by Tesco on Jan. 22, 2003, that, subject to regulatory approval, the company is likely to make an offer for the U.K. number-four food retailer Safeway PLC (BBB+/Watch Dev/A-2), comprising an unspecified mixture of cash and shares. In light of Tesco's leading position in the
