The British Beer and Pub Association is petitioning for a total smoking ban in British pubs (see ASR 1/16/06). While several pubs have tried to get a partial ban passed -- the ban would not apply to pubs not offering food -- the recent push in Parliament has been to pass an all-out prohibition that only excludes private member's clubs. The British Beer and Pub Association argued that an exemption of these private member's clubs would damage the pub trade. At a recent teleconference, Paul Crawford, a Fitch Ratings analyst, said it's a wait-and-see situation regarding how the legislation pans out. However, looking at transactions with exposure to Scottish pub companies will, undoubtedly, be used as a learning experience to get up to date on how the ban might affect transactions with exposure to English pubs, Crawford said.
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Spreads ranging from 16-18 basis points over the three-month, interpolated yield curve on the P1 (Moody's) and F1+ (Fitch) notes, to 160 to 170 over the benchmark on the class D notes.
9h ago -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
10h ago -
Broken down by product type, the agency's NJCLASS Standard Fixed product should account for a large majority of the loans, 75.4%. NJCLASS Consolidation will account for the next-largest group, 14.1%.
April 24 -
Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
April 24 -
The notes will price against Treasurys, with spreads expected to fall between 85 and 90 basis points over the benchmark.
April 24 -
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
April 24