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Research Update: London Merchant Securities PLC Nov 02 Product Image

Research Update: London Merchant Securities PLC Nov 02

  • ID: 1822977
  • November 2002
  • Standard & Poors

Abstract
On Nov. 7, 2002, Standard & Poor's Ratings Services affirmed its single-'A' senior secured debt rating on U.K.-based property investment and venture capital company London Merchant Securities PLC's (LMS) £100 million ($157 million) 6.5% secured bonds due 2026, following the announcement that the company intends to issue a further £75 million of these bonds under the trust deed of the existing bonds. At the same time, Standard & Poor's affirmed its triple-'B'-plus long-term and 'A-2' short-term corporate credit ratings on LMS. The outlook is stable. Standard & Poor's single-'A' senior secured debt rating on LMS' existing £100 million, and proposed additional £75 million, secured bond, due 2026 is rated two notches higher than the company's long-term corporate credit rating due...

Companies mentioned in this report are:
- Derwent London PLC

Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

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- Derwent London PLC

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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