Summary: Plenary Properties LTAP L.P. Mar 12

Standard & Poors, March 2012

Abstract
The 'A' rating broadly reflects Standard & Poor's Ratings Services' view of the following positive factors: A strong rationale for the project, as the LTAP facility is to accommodate CSEC; A very experienced project team, which consists of an experienced design-build contractor (DB) in PCL Constructors Canada Inc., highly capable equity sponsors in Plenary Canadian Holdings Inc., an experienced facilities management (FM) provider in Honeywell Ltd., and an experienced IT provider in Hewlett-Packard (Canada) Co. (HP); A project agreement that provides for clearly defined roles for the private- and public-sector participants with an appropriate allocation of risks for a project of this size and type; A highly rated government offtaker in Defense Construction (1951) Ltd. as agent for the Government...

Companies mentioned in this report are: PLENARY Properties LTAP LP
Action: Review

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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.

PLENARY Properties LTAP LP

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