- Language: English
- 64 Pages
- Published: September 2011
- Region: Great Britain, United Kingdom
Research Update: Metronet Rail BCV Finance PLC Jan 03
- Published: January 2003
- Standard & Poors
On Jan. 27, 2003, Standard & Poor's Ratings Services assigned the following debt ratings to U.K.-based London Underground infrastructure company Metronet Rail BCV Finance PLC's (Metronet BCV) -1,310 million ($2,125 million) debt facilities: -- A preliminary 'BBB+' senior secured debt rating to -810 million in various bank facilities of between eight and 27 years; -- A preliminary 'AAA' insured debt rating to -500 million bonds. These consist of 29-year -350 million fixed-rate bonds, guaranteed by Ambac Assurance U.K. Ltd. (Ambac; AAA/Stable/--), and -150 million index-linked bonds, guaranteed by Financial Security Assurance (U.K). Ltd. (FSA; AAA/Stable/--); and -- An underlying 'BBB+' senior secured debt rating to the -500 million bonds. The outlook on the 'BBB+' preliminary and underlying ratings is stable....
Companies mentioned in this report are: Metronet Rail BCV Finance PLC,Bombardier Inc.,RWE Thames Water PLC,UK Power Networks Services (South East) Ltd,Assured Guaranty (Europe) Ltd.,Ambac Assurance U.K. Ltd.
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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Metronet Rail BCV Finance PLC,Bombardier Inc.,RWE Thames Water PLC,UK Power Networks Services (South East) Ltd,Assured Guaranty (Europe) Ltd.,Ambac Assurance U.K. Ltd.