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BAA Funding Ltd. Debt Issues Assigned Negative Outlook On Dept. for Transport Consultation Paper; All Ratings Affirmed Mar 09
Standard & Poors, March 2009
Abstract
PARIS (Standard & Poor's) March 12, 2009--Standard & Poor's Ratings Services said today that it assigned a negative outlook to all classes of notes issued by BAA Funding Ltd., following the release of a consultation paper on March 9 by the U.K. Department for Transport (DfT) that, subject to final consultation, is calling for a revamped regulatory framework for the U.K.'s regulated airports. We also assigned a negative outlook to the tranche A and tranche B refinancing facility lent to Heathrow Airport Ltd., Gatwick Airport Ltd., and Stansted Airport Ltd. (see list below). At the same time, all the ratings were affirmed. 'The negative outlook reflects our view of the uncertainty arising from the changes proposed in the consultation paper...
Companies mentioned in this report are: BAA Funding Ltd.,Heathrow Airport Ltd.
Action: Affirmed
Action: Outlook: Negative
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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