Research Update: InspirED Education Outlook Revised To Positive On Improved Operational Performance; 'BB+' Rating Affirmed Nov 11

Standard & Poors, November 2011

Abstract
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: Affirmed
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

Customers who bought this item also bought

• eLEARNING - Global Strategic Business Report
• Global Education Industry Forecast to 2016 - Focus on Emerging Markets
• South Africa Education Market Outlook to 2015 - Opportunities in the Online Education and Teacher Training Market
• 2009 Public Sector - UK Key Corporate Changes
• Independent thinking - The Public sector ICT market in Scotland
• Australia Defence and Security Report Q4 2011
• Distance Learning - Global Outlook
• Education Services - Global Strategic Business Report
• Colombia Defence and Security Report Q3 2013
• Syria Defence and Security Report Q3 2011