Transaction Update: Catalyst Healthcare (Romford) Financing PLC Nov 08

  • ID: 1858622
  • November 2008
  • Standard & Poors
1 of 3

The 'AAA' insured debt rating on the £128.4 million senior secured bonds due 2038 and the £100 million senior secured loan due 2034 issued by Catalyst Healthcare (Romford) Financing PLC (the Issuer) reflects the unconditional and irrevocable payment guarantee of scheduled interest and principal provided by Financial Security Assurance (U.K.) Ltd. (AAA/Watch Neg/--). The 'BBB' underlying debt rating on the bonds and loan reflects a composite of credit factors. Under a private-finance initiative (PFI), the Issuer financed the design and construction of new hospital facilities for the Barking, Havering, and Redbridge Hospitals NHS Trust. The project company, Catalyst Healthcare (Romford) Ltd. (ProjectCo), is also providing certain facilities management (FM) and maintenance services under a 36-year project agreement. The project reached...

Companies mentioned in this report are:
- Catalyst Healthcare (Romford) Financing PLC
- Assured Guaranty (Europe) Ltd.

Action: Review

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: Full Analysis

Note: Product cover images may vary from those shown
2 of 3

- Catalyst Healthcare (Romford) Financing PLC
- Assured Guaranty (Europe) Ltd.

Note: Product cover images may vary from those shown
3 of 3
Note: Product cover images may vary from those shown


  • Quick Help: This Credit Rating Report will be emailed to you.


If you have a more general question about our products please try our


Our Clients

  • Fluidigm Corporation
  • Apple, Inc.
  • CEVA Santé Animale
  • Abbott Laboratories Ltd.
  • Merck Group
  • Allergan Inc.
  • Pfizer Inc.