Recently, the Priority Schools Midlands batch – a UK schools building programme sponsored by construction company Carillion and fund manager Equitix – reached financial close, receiving a combined equity investment close to £13.2 million. The debt was rated BBB- with a ‘stable’ outlook by Standard & Poor’s, due to expectations that construction will be completed on time and within budget and that operations will be managed effectively. This is because all of the risks will be passed to an experienced contractor and the underlying tasks are deemed to be straightforward. As such, the project is due to deliver eight secondary school buildings across the Midlands region of the U.K. from late 2016 to late 2017.
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