However, he did suggest that it was necessary to renegotiate the conditions under which the adjustment takes place, through changes to deadlines, deferment of interest payment and renegotiated interest rates, among others.
The deadline for expressions of interest is Monday, with Virgin Care, Serco and Circle all reportedly interested.
The council opened up the running of CCYC to private investors and the deadline for expressions of interest was 15 April.
The full council will discuss the issue on the eve of the deadline for expressions of interest at the end of November.
Consult the Egide Web site to check the deadline for your country of interest.
For example, the report gives schools a 2-year deadline for implementing a conflict-of-interest policy and provides a model of what one might look like.
A desperate search to find a buyer for South Korea's financially troubled and largest credit card company, LG Card, passed a second deadline with still no sign of interest.
Unless there are late bids before Tuesday's midnight deadline for a formal declaration of interest, the decision will come down to a three-horse race between Turkey, Georgia and Scotland-Wales-Ireland.
The company has been steadily losing money and recently missed deadlines for interest repayments.
Barely has the dust settled on the first round of local TV licences than media regulator Ofcom has set a deadline on 24 April for expressions of interest for the next phrase of small-scale services.
