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Criteria | Corporates | Project Finance: Key Credit Factors: Methodology And Assumptions On Risks For Concentrating Solar Thermal Power Projects Oct 09
Standard & Poors, Oct 2009
Abstract
1. Standard & Poor's Ratings Services rates concentrating solar thermal power (CST) power projects according to general project finance criteria defined in the article 'Criteria| Corporate|Project Finance: Updated Project Finance Summary Debt Rating Criteria' published Sept. 18, 2007 on RatingsDirect. We define here more assumptions and methodologies specific to CST projects that supplement our general criteria, to provide greater transparency on the analytic issues we consider when rating projects in this asset class. 2. Our project finance credit analysis focuses on the predictability and variability of a project's cash flow and compares this cash flow to the project's debt repayment profile. The analysis considers a combination of business risk factors and financial risk factors that our general project finance criteria...
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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