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Summary: Societe Marseillaise du Tunnel Prado-Carenage S.A. (SMTPC) Feb 06 Product Image

Summary: Societe Marseillaise du Tunnel Prado-Carenage S.A. (SMTPC) Feb 06

  • Published: February 2006
  • Standard & Poors

Abstract
The ratings on France-based toll-road operator Soci-t- Marseillaise du Tunnel Prado-Car-nage S.A. (SMTPC) reflect the unconditional and irrevocable guarantee provided by CIFG Europe (AAA/Stable/--) for the timely payment of scheduled interest and principal on two bank loans extended to SMTPC: a -65.3 million senior secured bank loan from the former entity CDC IXIS Financements, now known as IXIS Corporate & Investment Bank, maturing in 2020; and a -25.8 million senior secured loan from EIB Finance S.A., maturing in 2009. The values quoted above are at June, 30 2005. The loans were initially for -73 million and -34 million, respectively. SMTPC owns and operates a 2.5-kilometer tunnel in Marseille under a 32-year contract, ending in 2025. The tunnel was opened in...

Companies mentioned in this report are: Societe Marseillaise du Tunnel Prado-Carenage S.A. (SMTPC),VINCI S.A.,CIFG Europe
Action: Review

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Societe Marseillaise du Tunnel Prado-Carenage S.A. (SMTPC),VINCI S.A.,CIFG Europe

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