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407 International Inc. Jun 11
Standard & Poors, June 2011
Abstract
Highway 407's strong demand profile Strong concession agreement with the province Solid debt service coverage metrics Full volume exposure Financial policy that has led to higher dividends Capital structure contains bonds with inflation indexing and bullet maturities The ratings on 407 International Inc. reflect Standard & Poor's Ratings Services' opinion of the following strengths: Highway 407 has a strong demand profile, by virtue of its role as an intraurban route within the growing and economically diversified Greater Toronto Area (GTA). It runs north of and parallel to the GTA's main beltway, Highway 401, the central parts of which are at full lane capacity and rank among the busiest stretches of road in North America. We think the GTA's sound economic...
Companies mentioned in this report are: 407 International Inc.
Action: Affirmed
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: Full Analysis
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