Summary: Highway Management (City) Finance PLC Mar 09
- ID: 1857541
- March 2009
- Standard & Poors
Standard & Poor's Ratings Services' insured 'AAA' rating on the debt issued by Northern Ireland-registered special-purpose vehicle (SPV), Highway Management (City) Finance PLC, reflects the unconditional and irrevocable payment guarantee of scheduled interest and principal provided by Financial Security Assurance (U.K.) Ltd. (AAA/Watch Neg/--). The underlying rating on the debt is 'BBB', with a stable outlook. Highway Management (City) Finance has lent the proceeds of the debt issue to Highway Management (City) Ltd. (ProjectCo), an SPV and the key contracting entity. The funds are being used to finance the design, construction, operation, and maintenance of four complementary highway improvement schemes to the west of Belfast, in Northern Ireland. Together, these schemes represent the first of two design, build, finance, and...
Companies mentioned in this report are: Highway Management (City) Finance PLC,Assured Guaranty (Europe) Ltd.
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