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Ratings Affirmed In Mitchells & Butlers Finance's Pub Corporate Securitization Dec 08
Standard & Poors, December 2008
LONDON (Standard & Poor's) Dec. 18, 2008-Standard & Poor's Ratings Services today affirmed its ratings on the notes issued by Mitchells & Butlers Finance PLC (MAB) following its review of the transaction in light of the full year results to Sept. 27, 2008 (see list below). MAB is a corporate securitization that originally closed on Nov. 13, 2003. The first tap issuance was successfully executed in September 2006. The proceeds from the new notes (-1.105 billion) were mainly used to redeem the outstanding floating-rate notes, to make a payment to MAB to fund an acquisition of pubs from Whitbread, and to make a one-off dividend distribution. The transaction is backed by the future cash flows generated by the operating assets...
Companies mentioned in this report are: Mitchells & Butlers Finance PLC
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Mitchells & Butlers Finance PLC