S&P’s June issue of Infrastructure Outlook examines plans for a new U.K. airport runway

In the main feature of this month’s issue of Infrastructure Outlook, Standard & Poor’s Credit Analyst Olli Rouhiainen looks at the steadily increasing number of air passengers travelling to and from southeast England and the U.K. government’s options at Heathrow and Gatwick for increasing runway capacity. He explains that a project of this scale and expense will rely heavily on shareholder support – which will be a key factor for the credit ratios during the runway’s construction phase.

Further abroad, and for the first time in a long time, a project bond rating issuance recently occurred in Spain – the preliminary ‘BBB’ rating on motorway Project Sociedad Concesionaria Autovia de la Plata was issued last month. On the utilities side, we see that France’s rapidly changing regulatory and competitive landscape has caught up with energy giant EDF, resulting in S&P’s negative outlook revision on the company.

To view these articles and other key rating movements, please see the full version of S&P’s infrastructure newsletter in pdf or e-book format.

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