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BULLETIN: Ratings On M&B's U.K. Pub Corp Sec Notes Unchanged Despite Potential Takeover May 06
Standard & Poors, May 2006
Abstract
LONDON (Standard & Poor's) May 5, 2006-Standard & Poor's Ratings Services said today that the ratings on the notes issued by Mitchells & Butlers Finance PLC remain unchanged after the announcement that Mitchells & Butlers PLC (M&B), the ultimate parent of the borrower, has received a pre-conditional acquisition proposal from a consortium led by the Tchenguiz Family Trust (see list below). Standard & Poor's has not undertaken any rating actions today, as no offer has materialized, nor is required following the announcement of a preliminary approach. Similar to other transactions where there has been a change in ownership and uncertainties regarding the implications for the securitized portfolio, if detailed information on future group strategy is not forthcoming following any offer...
Companies mentioned in this report are: Mitchells & Butlers Finance PLC
Action: General Comment
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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