Cross-border leasing deals feel the pinch
- From: Vol 9, Issue 11 (November 2008)
- Category: General
- Region: Americas
- Country:
The credit crisis has hit town halls throughout Germany, as municipalities struggle to re-negotiate cross-border leasing deals originally conceived as a tax wheeze.
Cross-border leasing contracts signed by town halls throughout Germany for communal water and wastewater assets over the decade to 2004 are running into trouble in the wake of the credit crisis. Municipalities could find themselves burdened with costs running into millions of Euros as the ratings of insurers and banks involved in the deals plummet.
Cities are unlikely to try ...
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