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.
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Research Type: Full Analysis