Pub operators such as Punch Taverns and Enterprise Inns have been named by several analysts and fund managers as companies that may now have to cut dividends or pass on them altogether. Highly leveraged pub groups are vulnerable say analysts. “With pubs, there’s still some nervousness over those with high debt levels,” according to Keith Bowman, an equity analyst at Hargreaves Lansdown. “It’s been seen in the past that they can handle a level of debt but they’re now being tested.” Financial Times 19/07/08 page 15