Monday, Jun 16, 2008
How long has Poxtons got?
Telegraph: Countrywide and Foxtons have more than property on their books
Countrywide is in the fortunate position of having no covenants on its bonds; it just has to keep meeting interest payments until things pick up.
Foxtons, on the other hand, does have banking covenants. It has quarterly targets that it must hit, which measure its turnover in relation to the amount of debt it has.
Posted by rental john @ 03:28 PM (133 views) Add Comment
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