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Autolink Concessionaires (M6) PLC 'BBB+' Underlying and 'AAA' Insured Bond Rtgs Affirmed Oct 02
Standard & Poors, Oct 2002
Abstract
LONDON (Standard & Poor's) Oct. 3, 2002--Standard & Poor's Ratings Services said it affirmed its triple-'B'-plus underlying senior secured debt rating and triple-'A' insured senior secured debt rating on the -125 million ($196 million) senior bonds issued by Autolink Concessionaires (M6) PLC (Autolink). The outlook is stable. The bond proceeds were used to fund the construction and upgrade of the A74 road in the south of Scotland to motorway. The insured rating reflects the unconditional and irrevocable guarantee of scheduled interest and principal on the bonds provided by Financial Security Assurance (U.K.) Ltd. (AAA/Stable/--). Autolink is a non-recourse, special-purpose project-funding vehicle for the M6 motorway project. It is owned by Autolink Holdings (M6) Ltd., which is a joint venture between...
Companies mentioned in this report are: Autolink Concessionaires (M6) PLC,Assured Guaranty (Europe) Ltd.
Action: Affirmed
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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