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Preliminary Ratings Assigned in Mitchells & Butlers' U.K. Pub Securitization Oct 03

  • ID: 1871712
  • October 2003
  • Region: United Kingdom, Great Britain
  • Standard & Poors
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LONDON (Standard & Poor's) Oct. 9, 2003--Standard & Poor's Ratings Services said today it assigned its preliminary credit ratings to the £1.9 billion fixed- and floating-rate asset-backed notes to be issued by Mitchells & Butlers Finance PLC, an SPE (see list below). The notes are backed by a loan to Mitchells & Butlers Retail Ltd. (MAB) secured by first-fixed and first-floating charges on the freehold and leasehold interests in public houses (pubs) and a first-floating charge over other assets and undertakings of the issuer. MAB was formed in April 2003 as a result of the demerger of the hotel and pub business of Six Continents PLC (formerly part of Bass PLC). MAB is the first of the large managed estates...

Companies mentioned in this report are:
- Mitchells & Butlers Finance PLC

Action: New Rating

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Research type: News
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- Mitchells & Butlers Finance PLC

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