French said the bank had assessed threats to the student vacation lettings market – such as fears of terrorist attacks – but was confident they would not affect long-term demand. The loans last for 28 and 21 years respectively. Occupancy of the buildings is only guaranteed for 15 years though the guarantee can be renewed for another 10 years. Lloyds believes demand for the flats will remain high. Colin Adams, Shaftesbury finance director, said: "These projects provide good-quality accommodation by working in partnership with higher education institutions." Shaftesbury went into supervision on 17 October 2003 after problems with its subsidiaries' repairs service and a complex management structure (HT 24 October 2003, page 13). Credit rating agency Standard and Poor's reviewed Shaftesbury's strong rating of A– when it went into supervision, but has decided there is no cause for concern. Last month, it took Shaftesbury off its "credit watch".