View more on these topics

Standard & Poor’s places Bradford & Bingley on negative creditwatch

Standard & Poor has placed its ‘A-1’ short-term counterparty credit rating on Bradford & Bingley PLC on creditwatch with negative implications.

It says that this move follows B&B’s 2007 results released last week.

S&P credit analyst Nick Hill says:”The creditwatch placement follows B&B’s 2007 results and reflects our view that the combination of rising impairments, potential margin pressure and further markdowns, and continued challenging funding conditions may not be consistent with the current rating.”

S&P says that: “B&B’s liquidity position, although sound, was not as strong as we expected after the sale of various loan books.”

S&P adds that term funding clearly remains challenging and the public securitization markets currently appear unlikely to provide material funding for specialist lenders in 2008.


Governor dampens hopes of rate cuts

Bank of England governor Mervyn King has warned that inflation could reach 3 per cent in the coming months, missing the monetary policy committee’s target.He says big interest rate cuts, as recently seen in the US, are unlikely in the UK and that rising food and fuel prices will put household finances under serious pressure.Delivering […]

Govt proposes new immigrant tax

The Government is set to introduce a new tax on immigrants in a bid to make them contribute to the rising cost of public services.In a speech today Home Secretary Jacqui Smith is expected to say immigrants will have to pay a special levy when they enter the UK and people who are deemed more […]

A Shaw thing

Sam Shaw is a reporter on Money MarketingNow firmly back in the loop after a couple of weeks away, having cleared the 1,086 emails from my inbox (most of which were pointless, of course) and got my head around what has been going on, I was treated to dinner at the rather salubrious Shanghai Blues […]

Life Trust signs up 100 distributors in one month

Life Trust Insurance says that 100 distributors have already signed up to provide its longevity income plan just a month after the launch of the company. Baigrie Davies has become the 100th firm to sign terms of business to distribute the product. The income plan is a lump-sum investment designed to help protect consumers from […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm