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BULLETIN: U.K. Strategic Rail Authority Ratings To Be Withdrawn After Upcoming Dissolution Jun 05
Standard & Poors, June 2005
Abstract
LONDON (Standard & Poor's) June 9, 2005--Standard & Poor's Ratings Services said today that it would withdraw its 'AAA' long-term and 'A-1+' short-term issuer credit ratings on the U.K.'s Strategic Rail Authority (SRA), if the body is wound up as expected by end-June 2005. The SRA is currently the legally independent, nondepartmental public body responsible for setting United Kingdom (U.K.; AAA/Stable/A-1+) rail strategy. The SRA has provided the sole source of credit support for debt issued by subsidiaries of Network Rail Ltd., the not-for-dividend U.K. rail infrastructure operator. However, the U.K. government's plans to streamline the structure and organization of the national rail system, as set out in the Railways Act 2005, include provisions to wind up the SRA. The...
Companies mentioned in this report are: Strategic Rail Authority,United Kingdom (Unsolicited Ratings),Network Rail Infrastructure Finance PLC
Action: Bulletin
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, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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