S/P MAY DOWNGRADE MEPC PLC'S EUROBONDS
Standard and Poor's said it is
reviewing <MEPC Plc's> two A-rated eurobond issues totalling
125 mln stg for a possible downgrade.
    The review follows the agreement by the British-based
real-estate firm to acquire a controlling interest in Oldham
Estate Plc and its offer to buy the remaining equity.
    The maximum cost of the acquisition would be 620.9 mln stg.
The purchase owuld be financed largely by equity, but
uncertainties exist as to the amount of debt to be assumed by
MEPC and the quality of the properties in Oldham's portfolio, S
and P said.
 Reuter
