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Research Update: London Merchant Securities PLC Nov 02 Product Image

Research Update: London Merchant Securities PLC Nov 02

  • Published: 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 READ MORE >

- Derwent London PLC

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