Summary: Highway Management (City) Finance PLC May 11
- ID: 1795092
- May 2011
- Standard & Poors
Standard & Poor's Ratings Services' insured 'AA+' rating on the debt issued by Northern Ireland-registered special-purpose vehicle (SPV) Highway Management (City) Finance PLC, reflects the unconditional and irrevocable payment guarantee of scheduled interest and principal provided by Assured Guaranty (Europe) Ltd. (AGE; AA+/Stable/--). Standard & Poor's underlying rating (SPUR) on the debt is 'BBB'. According to our criteria, a long-term rating on a monoline-insured debt issue reflects the higher of the rating on the monoline and the SPUR. Therefore, the long-term ratings on the above issues reflect the rating on the monoline, which is higher than the SPUR. Highway Management (City) Finance has lent the proceeds of the debt issue to Highway Management (City) Ltd. (ProjectCo), an SPV and the...
Companies mentioned in this report are: Highway Management (City) Finance PLC
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