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Industry Report Card: Global Project Finance's Positive Start To 2007 Keeps Ratings Solidly Investment Grade May 07 Product Image

Industry Report Card: Global Project Finance's Positive Start To 2007 Keeps Ratings Solidly Investment Grade May 07

  • ID: 1788134
  • May 2007
  • Region: Global
  • Standard & Poors

FEATURED COMPANIES

  • AEI
  • Calpine Corp.
  • DBNGP Trust
  • Juniper Generation LLC
  • MPC Funding Ltd.
  • RMPA Services PLC
  • MORE

Abstract
The first quarter of 2007 was a very active period globally in the project finance sector. Standard & Poor's Ratings Services has rated 13 new projects since the start of the year and has upgraded seven existing projects. Credit improved with five of the new projects rated in the investment grade category. As of May 4, 2007, about 69% of the rated project finance transactions in the U.S. had investment-grade status compared with 50% as of Dec. 31, 2006. About 87% have stable outlooks. Of the remaining projects without a stable outlook, 15 projects have a negative outlook, four ratings are on CreditWatch with negative implications, five have a positive outlook, and one rating is on CreditWatch with positive implications....

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.

- Massachusetts Development Finance Agency
- Confederated Tribes of the Warm Springs Reservation
- Edison Mission Energy
- Cogentrix Energy Inc.
- The AES Corp.
- Calpine Corp.
- Sacramento Cogeneration Authority
- NRG Energy Inc.
- Petropower Energia Ltda.
- Kern River Funding Corp.
- Road Management Consolidated PLC
- Golden State Petroleum Transport Corp.
- Orange Cogen Funding Corp.
- Express Pipeline System
- Express Pipeline Partnership
- Borger Energy Associates L.P./Borger Funding Corp.
- Homer City Funding LLC
- Alliance Pipeline L.P.
- Tenaska Georgia Partners L.P.
- Tenaska Alabama Partners L.P.
- Midwest Generation LLC
- International Power PLC
- Rowville Transmission Facility Pty Ltd.
- Austin Convention Center Enterprises Inc.
- FirstLight Hydro Generating Co.
- Transurban Finance Co. Pty Ltd.
- Broadcast Australia Finance Pty Ltd.
- Blue Water Bridge Canada
- Metronet Rail SSL Finance PLC
- The Coventry & Rugby Hospital Co. PLC
- Denver Convention Center Hotel Authority
- Colver Power Project
- Octagon Healthcare Funding PLC
- Catalyst Healthcare (Romford) Financing PLC
- Calpine Generating Co. LLC
- DTE Energy Center LLC
- Sociedad Concesionaria Vespucio Norte Express S.A.
- Autoroutes Paris-Rhin-Rhone S.A.
- Baesa - Energetica Barra Grande S.A.
- Lombard Pub Facs Corp.
- DBNGP Trust
- Tenaska Oklahoma I L.P.
- Catalyst Healthcare (Manchester) Financing PLC
- Crockett Cogeneration, A California L.P.
- FPL Energy National Wind Portfolio LLC
- FPL Energy National Wind LLC
- Premier Transmission Financing PLC
- Healthcare Support (Newcastle) Finance PLC
- San Antonio Convention Center Hotel Finance Corp.
- Transform Schools (North Lanarkshire) Funding PLC
- Ras Laffan Liquefied Natural Gas Co. Ltd. (3)
- Central Nottinghamshire Hospitals PLC
- Sacramento Municipal Utility District Financing Authority
- Baltimore Hotel Corp.
- NewHospitals (St. Helens and Knowsley) Finance PLC
- VeraSun Energy Corp.
- Alpha Schools (Highland) Project PLC
- Capital Hospitals (Issuer) PLC
- Highway Management (City) Finance PLC
- Astoria Generating Co. Acquisitions LLC
- Windsor Financing LLC
- Consort Healthcare (Birmingham) Funding PLC
- Ajman Sewerage (Private) Co. Ltd.
- Aspire Defence Finance PLC
- Alte Liebe 1 Ltd.
- CRC Breeze Finance S.A.
- MPC Funding Ltd.
- InspirED Education (South Lanarkshire) PLC
- Yankee Stadium LLC
- DirectRoute (Limerick) Finance Ltd.
- Queens Ballpark Co. LLC
- The Hospital Co. (Swindon & Marlborough) Ltd.
- Abu Dhabi National Energy Co. PJSC
- Sabine Pass LNG L.P.
- Concessionaria Ecovias dos Imigrantes S.A.
- Nakilat Inc.
- Reliance Rail Finance Pty Ltd.
- Ostregion Investmentgesellschaft Nr. 1 S.A.
- Longview Power LLC
- Discovery Education PLC
- NSG Holdings LLC
- Breeze Finance S.A.
- Covanta Energy Corp.
- Midland Cogeneration Venture L.P.
- Colowyo Coal Funding Corp.
- California Petroleum Transport Corp.
- Oleoducto Central, S.A. (OCENSA)
- Excel Paralubes Funding Corp.
- LS Power Funding Corp.
- Salton Sea Funding Corp.
- Sacramento Power Authority
- Edison Mission Energy Funding Corp.
- Autolink Concessionaires (M6) PLC
- Quezon Power (Philippines) Ltd. Co.
- Windsor Petroleum Transport Corp.
- Brooklyn Navy Yard Cogeneration Partners L.P.
- LoyVic Pty Ltd.
- Proyectos de Energia
- Harper Lake Solar Funding Corp.
- CE Generation LLC
- Cordova Funding Corp.
- Red Oak Power LLC
- Orion Power Holdings Inc.
- Integrated Accommodation Services PLC
- PPL Montana LLC
- Juniper Generation LLC
- GenOn REMA LLC
- RRI Energy Inc.
- Oleoducto de Crudos Pesados
- Ruta del Maipo Sociedad Concesionaria S.A.
- Elwood Energy LLC
- Southern Power Co.
- Utility Contract Funding LLC
- Metropolitan Biosolids Management LLC
- Phoenix Park Gas Processors Ltd
- Exchequer Partnership (No. 2) PLC
- Autopista Veracruz Cardel
- Green Country Energy LLC
- Societe Marseillaise du Tunnel Prado-Carenage S.A. (SMTPC)
- FPL Energy American Wind LLC
- Itapebi Geracao de Energia S.A.
- Calpine Construction Finance Co. L.P.
- Tenaska Alabama II Partners L.P.
- Sociedad Concesionaria Costanera Norte S.A.
- FPL Energy Wind Funding LLC
- CountyRoute (A130) PLC
- Sociedad Concesionaria Autopista Central S.A.
- Central Valley Financing Authority
- RMPA Services PLC
- DBCT Finance Pty Ltd.
- Tenaska Virginia Partners L.P.
- Autovia del Camino S.A.
- Carretera Viaducto La Venta-Punta Diamante
- Kiowa Power Partners LLC
- Aventine Renewable Energy Holdings Inc.
- Autopista Monterrey-Cadereyta
- Veolia Energy Atlantic Station LLC
- Libramiento Plan del Rio
- Autopista Mexico-Toluca
- Coffeyville Resources LLC
- Ruta del Maule Sociedad Concesionaria S.A.
- Libramiento de Matehuala
- Services Support (Manchester) Ltd.
- Autoban - Concessionaria do Sistema Anhanguera Bandeirantes S.A.
- FMG Resources (August 2006) Pty Ltd.
- AEI
- New Brunswick (F-M) Project Co. Inc.
- Maritimes & Northeast Pipeline L.P.
- AES Ironwood LLC

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