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2001-10-22 DTR-001
Department of Transport, Local Government and the Regions

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DTLR statement


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Department of Transport, Local Government and the Regions



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Department of Transport, Local Government and the Regions

DTLR statement
_______________________________________________________________


date
22 Oct 2001 00:00
source Department of Transport, Local Government and the Regions
type Press release



Transport Secretary Stephen Byers has extended until Friday, 14 December, 2001, the period until which he will provide the Railway Administrator with sufficient funds to pay non-default interest, lease rentals and scheduled principal repayments.

Commenting on his decision, to extend the period, Stephen Byers said:

''We want to assure finance creditors of Railtrack plc that if the Railway Administrator accepts our proposal for a company limited by guarantee we intend to transfer their loans to the new company in a way that provides them with good investment grade credit quality. The extension will provide finance creditors with adequate time to consider our proposals.''



Public Enquiries: 020 7944 3000 DTLR website: http://www.dtlr.gov.uk



Railhub Archive ::: 2001-10-22 DTR-001





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