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Transaction Update: Plenary Properties LTAP L.P. Mar 12 Product Image

Transaction Update: Plenary Properties LTAP L.P. Mar 12

  • ID: 2084207
  • March 2012
  • Standard & Poors

Abstract
Plenary Properties LTAP L.P. (Plenary or project co)was selected to design, build, finance, operate, maintain, and provide the IT infrastructure and services for the long-term accommodation project (LTAP) for Communications Security Establishment Canada (CSEC), the country's national cryptology agency. 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...

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

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.

Research Type: Full Analysis

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PLENARY Properties LTAP LP

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