The recapitalisation of Britain's banks could provide a boost to those businesses which need to come up with their own refinancing plans.
In the leisure sector, for example, JD Wetherspoon and William Hill need to find new debt or equity facilities in the next 18 months, according to Evolution Securities.
Analyst Ivor Jones said: "Wetherspoon has to refinance 17% of facilities in 2009 and 95% in 2010. William Hill has £1.2bn of facilities expiring in March 2010.
"In light of the recapitalisation of the UK banks, the shares which seem most at risk from a tighter market for debt may rally most."
Indeed, Wetherspoon is up 10p at 240p while William Hill has climbed 7.75p to 220.25p.
Still on the debt theme, Premier Foods - whose products include Mr Kipling cakes and Branston Pickle - is up 6.25p to 63.5p after it confirmed weekend reports it was looking at ways of cutting its £1.8bn of debt. It said it had been approached by several parties who had proposals to help achieve this. Earlier reports suggested private equity companies had come up with plans for a capital injection.
In a note this morning, Citigroup said: "We believe that the market is valuing Premier Foods on the weakness of its balance sheet and little else. A capital injection would likely remove any doubts on financing and enable the market to focus on the compelling fundamentals
"Should Premier's valuation go below current levels, we would not be too surprised to see private equity interest extend beyond a capital injection: with a market capitalisation of less than £500m, Premier is shelf-ready leverage in an asset class that is a favourite of private equity."
Overall the market has lost some of its earlier gains, but the FTSE 100 is still 188.1 points higher at 4120.1.
However HBOS is now down 24% at 93.6p while Royal Bank of Scotland is also getting hit, off 18.5% at 58.4p. Not only could existing RBS shareholders see their stakes severely diluted, the bank has also come out with a pretty grim trading update, warning of further impairment charges and write-downs in the fourth quarter.
