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Research Update: Network Rail Infrastructure Finance PLC Nov 04

  • ID: 1828840
  • November 2004
  • Standard & Poors

FEATURED COMPANIES

  • Strategic Rail Authority
  • MORE

Abstract
On Nov. 1, 2004, Standard & Poor's Ratings Services assigned its 'AAA' rating to the proposed £20 billion ($36 billion) multicurrency note program to be established by U.K.-based special-purpose company Network Rail Infrastructure Finance PLC (the issuer). The rating is based on the financial indemnity provided by the Strategic Rail Authority (SRA; AAA/Stable/A-1+) or its substitute and its ability to meet its contractual obligations in a timely manner in all circumstances. The rating on the program reflects the rating on the SRA and the terms of the financial indemnity, which: covers all note payments and the contractual terms of the program; and require the administrator (or the security trustee) to make drawings under the indemnity if amounts due and payable...

Companies mentioned in this report are:
- Network Rail Infrastructure Finance PLC
- Strategic Rail Authority

Action: New Rating

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 READ MORE >

Note: Product cover images may vary from those shown

- Network Rail Infrastructure Finance PLC
- Strategic Rail Authority

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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