Tesco PLC - S&P Global Ratings’ Credit Research

Tesco PLC

Tesco PLC - S&P Global Ratings’ Credit Research
Tesco PLC
Published Dec 14, 2010
3848 words — Published Dec 14, 2010
Price US$ 500.00  |  Buy this Report Now

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Abstract:

World's third-largest grocery retailer, with an unrivaled leading market position in the U.K. grocery retail market. Superior operating performance and track record in the U.K. due to its scale and a strategy based on business growth through sales rather than margins. Well-diversified store portfolio with a large percentage of freehold properties. Successful diversification into nonfood product categories. Credit metrics constrained owing to substantial debt-financed investment and sizeable returns to shareholders. Discretionary cash flow generation constrained due to high discretionary capital expenditures. The ratings on U.K.-based Tesco PLC reflect Standard&Poor's Ratings Services' view of the company's excellent business risk profile. This is supported by Tesco's position as the world's third-largest grocery retailer after U.S.-based Wal-Mart Stores Inc. (AA/Stable/A-1+) and

  
Brief Excerpt:

RESEARCH Tesco PLC Publication date: 14-Dec-2010 Primary Credit Analyst: Marketa Horkova, London (44) 20-7176-3743; marketa_horkova@standardandpoors.com Secondary Contact: Michael Seewald, CFA, Paris (33) 1-4420-6669; michael_seewald@standardandpoors.co...

  
Report Type:

Full Report

Ticker
TSCO@LN
Issuer
Tesco PLC
GICS
Food Retail (30101030)
Sector
Global Issuers, Structured Finance
Country
United Kingdom
Region
Europe, Middle East, Africa
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Tesco PLC" Dec 14, 2010. Alacra Store. May 09, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Tesco-PLC-837666>
  
APA:
S&P Global Ratings’ Credit Research. (). Tesco PLC Dec 14, 2010. New York, NY: Alacra Store. Retrieved May 09, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Tesco-PLC-837666>
  
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