MARC has affirmed the rating of Tesco Stores (Malaysia) Sdn Bhd’s (“TSM”) RM750 million guaranteed commercial paper programme at MARC-1 (cg). The short term corporate debt rating of TSM reflects the credit strength of its ultimate holding company, Tesco PLC (“Tesco”), which guarantees the commercial paper programme. TSM was incorporated on 24 July 2000 to operate hy...

MARC has assigned a short term corporate debt rating of MARC-1(cg) to Tesco Stores (Malaysia) Sdn Bhd (“TSM”) proposed RM750 million guaranteed commercial paper programme. Proceeds from the programme will be utilised by TSM to finance the expansion of its operations i.e. constructing new hypermarkets, refinance its existing loans and other general funding requirements. The short ter...