Duff & Phelps Credit Rating Co. announced recently that it is monitoring closely the performance of the GBP100 million ($157 million) Care Homes No. 1 deal, launched in April 1997 by NHP, the U.K.'s largest owner of nursing homes. The deal was lead managed by NatWest Markets.

The agency has placed the GBP40 million A2 subordinated tranche, rated BBB, on ratings watch down, while the AAA senior tranche remains unaffected.

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