Moody's, the international ratings agency, has told bondholders in Railtrack, the collapsed UK rail operator, that they have little choice but to accept the payment terms being offered by the UK government.
Moody's said: "Amid considerable uncertainties over the nature and creditworthiness of Railtrack Plc's successor entity, the failed company's bondholders have little choice but to accept the UK government's plans for continued payment of debt service."
