Network Rail Infrastructure Finance PLC Jul 09
- ID: 1829321
- July 2009
- Standard & Poors
£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
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