December 14, 2012 / 9:56 AM / in 5 years

TEXT-S&P credit FAQ looks at Private Finance 2

Dec 14 - Following a number of enquiries from investors about the potential credit effects of the U.K. government’s revised model for infrastructure financing, Private Finance 2, Standard & Poor’s Ratings Services has published a Credit FAQ titled “Potential Credit Effects Of The U.K. Government’s New Plan For Project Finance: Private Finance 2.”

In this Credit FAQ, we address the following questions:

-- How does Standard & Poor’s currently rate PFI projects?

-- What’s the current credit profile of rated PFI projects in U.K.?

-- How will PF2 allocate project risks, compared with PFI?

-- What will be the credit effects of proposed changes to both soft and hard FM services?

-- How will these changes affect project relationships?

-- Will the government’s equity stake in the PF2 model affect Standard & Poor’s project finance ratings?

-- Will the public sector equity stake mean that Standard & Poor’s assesses PF2 projects as government-related entities?

-- Will these capital changes lead to higher ratings for PF2 projects?

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