Summary
FOUR Seasons Health Care, which is struggling to pay off debts of Pounds 780 million, has launched a derivative instrument called a 'swap' to hedge it against interest rate increases.
Four Seasons' use of a swap, which does not show up on balance sheets, will raise concerns. The company, which last week took on 140 homes from stricken provider Southern Cross, is 40 per centowned by Royal Bank of Scotland, which is owned by the taxpayer.See the full content of this document
Extract
Four Seasons Hedges On Rate Rises
A spokesman for...
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