19 January 2014
Another Downgrade For Fairhold
Concerns raised about loans due for payment in 2015 and a sharper than predicted fall in income as a result of the agreement with the OFT over exit fees, plus an unexpected lack of interest in purchasing Fairhold's freehold interests and connected company defaults, led to downgrades on debts to BA2 and B3. Thus loans are classified as "Highly Speculative" The B3 loans are only one downgrade away from being classed as "Substantial Risk".
The next lowest ratings are "Imminent Default" folowed by" In Default".
