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Research Update: InspirED Education Outlook Revised To Positive On Improved Operational Performance; 'BB+' Rating Affirmed Nov 11
Standard & Poors, November 2011
The operational performance of U.K.-based InspirED Education (South Lanarkshire) PLC (ProjectCo) has improved, and the construction program is now essentially complete. The project's financial performance has remained in line with our forecasts and the quality of financial reporting has improved. We are therefore revising our outlook on the long-term issue rating on ProjectCo's senior secured bonds to positive from stable and affirming the rating at 'BB+'. The positive outlook reflects our view of continued improving operational performance, as well as stable financial performance. On Nov. 23, 2011, Standard & Poor's Ratings Services revised its outlook to positive from stable on the -352.25 million senior secured bonds issued by U.K.-based special-purpose vehicle InspirED Education (South Lanarkshire) PLC (ProjectCo). At the same...
Companies mentioned in this report are: InspirED Education (South Lanarkshire) PLC
Action: Outlook: Positive
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
InspirED Education (South Lanarkshire) PLC