Sainsbury cut closer to junk as Leighton hunts opportunities

J Sainsbury, the embattled UK supermarket chain, has been downgraded to one notch above junk as Allan Leighton, a potential predator, has signalled he is ready to pursue additional business interests.

Moody's, the international rating agency cut about £1.9bn (€2.7bn) of debt from Baa2 to Baa3 and warned more cuts could follow.

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