Fitch keeps Tesco Personal Finance on watch

Fitch Ratings said it affirmed Tesco Personal Finance Group plc's and Tesco Personal Finance plc's viability ratings at bbb and maintained their long-term issuer default ratings of BBB on rating watch negative.

At the same time, Fitch affirmed the respective entities' short-term issuer default ratings at F3 and support ratings at 3.

The agency said the actions reflect the actions taken on U.K. banks on March 1, which reflected the heightened uncertainty over the ultimate outcome of the United Kingdom’s exit from the European Union and the increased risk that a disruptive no-deal Brexit could result in negative action on U.K. banks, most likely with negative outlooks being assigned.

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