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Network Rail Infrastructure Finance PLC Jul 09 Product Image

Network Rail Infrastructure Finance PLC Jul 09

  • Published: July 2009
  • Standard & Poors

Abstract
£30 billion senior secured program 'AAA' £4 billion CP program 'A-1+' The 'AAA' long-term ratings on the £30 billion debt program and the 'A-1+' short-term rating on the £4 billion commercial paper (CP) program issued by Network Rail Infrastructure Finance PLC (NRIF) are based on credit support from the United Kingdom (AAA/Negative/A-1+) via the Secretary of State for Transport (SoST). The financial indemnity provided by the SoST is a direct sovereign obligation of the crown. It is unconditional, irrevocable, and unlimited. It is designed to ensure both timely repayment and unlimited recovery. Network Rail Ltd. (NRL) has adopted a financial structure whereby all debt is issued by a special-purpose vehicle (NRIF) and the proceeds are onlent to Network Rail Infrastructure...

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

Action: Review

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 READ MORE >

- Network Rail Infrastructure Finance PLC

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