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Tesco's borrowing costs soar as bonds plunge

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Tesco shares have lost half of their value this year amid an accounting scandal and a series of profit warnings.

London

TESCO Plc's battle to retain its investment-grade status is driving up borrowing costs for a company saddled with more than £16 billion (S$32.9 billion) of debt.

Tesco bonds plunged and the cost of insuring them against default soared last week after Moody's Investors