MARKET TALK: Tesco CDS Underperform After Citi Comments

30th Jun 2010 16:29

1529 GMT [Dow Jones] Tesco (TSCO.LN) 5-year CDS are closing the day 5 bps wider at 91 bps, according to Markit, underperforming a tighter overall market. Citi says the company's accounting is "consistently aggressive" and Tesco "appears to be a much less profitable entity" if its accounting is made more comparable with other UK food retailers. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 30, 2010 11:29 ET (15:29 GMT)