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Research Update: Network Rail Infrastructure Finance PLC Nov 04

  • ID: 1828840
  • November 2004
  • Standard & Poors
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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 the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, READ MORE >

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- Network Rail Infrastructure Finance PLC
- Strategic Rail Authority

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