Summary: Network Rail Infrastructure Finance PLC Feb 05
- ID: 1828911
- February 2005
- Standard & Poors
The 'AAA' long-term ratings on Network Rail MTN Finance PLC's £10 billion and Network Rail Infrastructure Finance PLC's £20 billion debt programs, and the 'A-1+' short-term rating on Network Rail CP Finance PLC's £4 billion CP program are based on credit enhancement and support from U.K. nondepartmental public body the Strategic Rail Authority (SRA; AAA/Stable/A-1+). The enhancement and support depend on the SRA's ability to meet its contractual obligations in a timely manner in all circumstances. SRA liquidity facilities, indemnities, hedging requirements, and direct agreements also support the rating. The three debt-issuing companies provide funding to Network Rail Infrastructure Ltd. (NRIL), the owner and operator of virtually all the U.K.'s heavy rail infrastructure. Network Rail Ltd., a company limited by...
Companies mentioned in this report are:
- Network Rail Infrastructure Finance PLC
- Strategic Rail Authority
- Network Rail CP Finance PLC
- Network Rail MTN Finance PLC
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