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Transaction Update: Catalyst Healthcare (Romford) Financing PLC May 05
Standard & Poors, May 2005
-128.4 million guaranteed secured bonds due 2038 (including -10 million of variation bonds) AAA- -100 million senior secured European Investment Bank loan due 2034 AAA- BBB -Guaranteed by Financial Security Assurance (U.K.) Ltd. (AAA/Stable/--) The insured 'AAA' rating on the -128.4 million senior secured bonds due 2038 and the -100.0 million senior secured loan due 2034, issued by Catalyst Healthcare (Romford) Financing PLC (the Issuer), reflect the unconditional and irrevocable payment guarantee of scheduled interest and principal provided by Financial Security Assurance (U.K.) Ltd. (AAA/Stable/--). The 'BBB' underlying rating on the bonds and loan reflects a composite of credit factors. Under the private finance initiative (PFI), the Issuer is financing the design and construction of new hospital facilities for the...
Companies mentioned in this report are: Assured Guaranty (Europe) Ltd.,Catalyst Healthcare (Romford) Financing PLC
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
Assured Guaranty (Europe) Ltd.,Catalyst Healthcare (Romford) Financing PLC