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March issue of S&P’s Infrastructure Outlook asks if there is light at the end of the tunnel for French toll road network operators

Standard & Poor’s has released March’s edition of Infrastructure Outlook, its monthly newsletter rounding up all the key ratings updates, news and commentaries relevant to infrastructure and project finance. This issue’s main story focuses on the implications of a key development within France’s transportation sector; the recent decision by the French government to freeze tolls on the country’s major motorways.

In addition, this issue also looks at recent developments in the oil and gas world, and, more specifically, finds that the impact of the ECB’s quantitative easing program – while on the whole positive for the European capital markets – threatens the liquidity of lower-rated oil and gas production companies. Among other topics, this month’s edition addresses the downgrade of Peterborough PLC’s fixed-rate bonds to ‘B-’ from ‘BBB-’ following one of the largest ever deductions to service payments in the project finance industry.

Moorgate has been producing Infrastructure Outlook since 2002. The issue is available in pdf or e-book format.

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