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Summary: NewHospitals (St. Helens and Knowsley) Finance PLC Feb 12
Standard & Poors, February 2012
The -178.3 million index-linked guaranteed secured bonds (including -25.3 million of index-linked variation bonds) issued by U.K.-based special-purpose vehicle NewHospitals (St. Helens and Knowsley) Finance PLC (the Issuer) and the -149.2 million index-linked guaranteed senior secured European Investment Bank (AAA/Negative/A-1+) loan have insured ratings of 'AA-'. The insured ratings reflect the unconditional and irrevocable payment guarantee of scheduled interest and principal provided by Assured Guaranty (Europe) Ltd. (AA-/Stable/--). Standard & Poor's underlying rating (SPUR) on the bonds and the loan is 'BBB-', reflecting a composite of credit factors outlined below. The 'BBB-' underlying rating takes into account Standard & Poor's Ratings Services' view of the following credit risks: The service providers, Medirest (not rated) and Taylor Woodrow Construction Ltd. (TWCL;...
Companies mentioned in this report are: NewHospitals (St. Helens and Knowsley) Finance PLC
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
NewHospitals (St. Helens and Knowsley) Finance PLC