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Bulletin: Ratings Unchanged In Epic (Barchester) PLC's U.K. CMBS Following Review Jul 08
Standard & Poors, July 2008
Abstract
LONDON (Standard & Poor's) July 24, 2008-Standard & Poor's Ratings Services said today that following its review of the commercial-mortgage backed securities (CMBS) transaction Epic (Barchester) PLC, there are no changes to the ratings on the notes. This transaction closed in November 2006 and features an operating company/property company (opco/propco) structure where the notes are backed by a single loan to Barchester Holdco Ltd. and onlent to Bluehood Ltd., a member of the U.K.-based Barchester Healthcare Group. The loan is secured on 160 properties owned or held on long leaseholds. The properties in turn are let to other group entities, which comprise virtually all of the group's EBITDA and assets, and whose rental payments provide the source of debt service...
Companies mentioned in this report are: Epic (Barchester) PLC,The Royal Bank of Scotland PLC
Action: Bulletin
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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