Peston’s Picks: Bradford & Bingley rescued (again)
Peston’s Picks: Bradford & Bingley rescued (again) Leading City institutions have rallied round to provide £179m of vital equity following a last-minute decision by the US private-equity house, Texas Pacific Group, to walk away from the deal.
TPG backed away from providing the new money after Moody’s, the credit rating agency, decided it was downgrading the debt of Bradford & Bingley.
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Original post by paul
