Standard & Poor's said last week that the U.K. government green paper reviewing the British Broadcasting Corp.'s Royal charter will have no impact on the two CMBS transactions tied to the BBC name. The government said it would renew the charter, which will be instated from December 2006 for an additional 10-year period.

Under the new charter, the BBC will continue to be funded primarily by the license fee paid by all U.K. households that own televisions, which is estimated to generate around GBP2.8 billion ($5.3 billion) a year. However analysts at S&P said that, at the moment, the government is looking at the possibility of whether new types of funding may be needed to supplement or replace the TV license fee.

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