Tesco, already facing a severe slowdown in sales in its stores, said last month it had uncovered what has become a 263 million pound ($420 million) accounting hole, resulting in the suspension of eight senior members of staff and a Serious Fraud Office investigation. Moody's has already cut the supermarket group to one notch above junk, Baa3, and last week also put it on review for a further downgrade after first-half results showed the pension deficit and net debt growing, while trading profits slumped. The agency urged the group to lay out its plans or face further cuts — a warning to newly appointed Tesco Chief Executive Dave Lewis who said last week investors should not expect a big strategy announcement. "We expect to have a much better idea of the management's strategy within three months," Sven Reinke, the agency's lead analyst on Tesco, told Reuters.