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Canadian PPP Sector Continues To Pick Up Steam Mar 07
Standard & Poors, March 2007
Abstract
The Canadian public-private partnership (PPP) market has grown rapidly during the past three years with numerous projects reaching financial close in several provinces. Given the project pipeline in the provinces of Alberta (AAA/Stable/A-1+), British Columbia (AA+/Stable/A-1+); Ontario (AA/Stable/A-1+); and Quebec (A+/Stable/A-1+), we expect that PPP project financing will pick up even more steam in the next few years. Early Canadian PPP projects closely matched the framework of the U.K.'s Private Finance Initiative in many respects, including risk allocation features, but many projects recently have implemented contractual modifications to suit local market conditions, as well as meeting government concession grantor objectives. During the period 2004-2006, Standard & Poor's Ratings Services observed varied project payment schemes in the Canadian market, including those...
Companies mentioned in this report are: British Columbia (Province of),Canada,New Brunswick (Province of),Nova Scotia (Province of),Ontario (Province of),Quebec (Province of),Alberta (Province of)
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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