Category Archive: Infrastructure Finance

In a feature for P3 Bulletin, S&P Global Ratings’ Trevor D’Olier-Lees observes bundling’s rise to prominence in infrastructure finance

In light of stalling transaction flows in infrastructure financing, S&P Global Ratings believes the use of “bundling” (the aggregation of multiple projects into a single portfolio for sale to investors) in public-private partnerships is attracting considerable interest. In a feature for P3 Bulletin, S&P Global Ratings’ senior director, global infrastructure ratings, Trevor D’Olier-Lees, analyses why …

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S&P Global Ratings’ ‘AA’ rating on £268m UK hospital refinancing is covered by specialist press

S&P Global Ratings has assigned its ‘AA’ long-term issue rating to the £268m guaranteed senior secured debt refinancing of the oncology wing at St. James’s University Hospital, Leeds, UK. In addition, S&P issued a ‘BBB’ for the underlying project. The debt, which is structured into three tranches to appeal to investors of varying risk appetite, …

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S&P Global Ratings’ dim outlook for America’s new gas-fired generators is covered by Project Finance International

An S&P Global Ratings report into America’s independent power producer (IPP) market concludes that generators are at the mercy of thin margins and waning power demand – which could force energy companies to restructure their operations or even lead to generator closures.   In an article written by Project Finance International, S&P’s senior director, U.S. energy …

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S&P Global Ratings’ Trevor D’Olier-Lees tells Institutional Investor that bundling could incentivise water infrastructure investment

  America has a water crisis – one that not only encompasses flooding but also droughts, poor supply quality and even contamination – and underinvestment is a significant contributing factor. To raise the estimated US$655bn needed over the next 20 years to maintain a safe water supply, states must incentivise private financiers by making water …

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S&P Global Ratings releases 2017’s first quarterly Infrastructure Finance Outlook newsletter

The new edition of IFR Outlook brings together the major commentaries, ratings updates and news in the global infrastructure sector over the first three months of 2017. Making the front page is an in-depth feature on the credit implications of “bundling” of project finance assets. Senior director Trevor D’Olier-Lees argues that aggregating assets can “unlock …

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S&P Global Ratings’ Michael Ferguson believes more American nuclear assets could close in an article for Rigzone

  Some American nuclear energy plants are at risk of closure as a consequence of inexpensive natural gas driving down power prices. But could the outlook for U.S. nuclear assets improve in the future? Michael Ferguson, Director, U.S. Energy Infrastructure, S&P Global Ratings, believes the outlook will likely remain shrouded by uncertainty. Writing for Rigzone, …

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S&P Global Ratings’ Michael Ferguson tells Downstream Today that the outlook for America’s nuclear assets remains bleak

Given its high operating costs and diminishing competitiveness, America’s nuclear sector is suffering from economic strain. With their long-term profitability at risk, some nuclear assets have been decommissioned ahead of schedule, while others are on the verge of closure. In a feature for Downstream Today, S&P Global Ratings’ Michael Ferguson offers his verdict on the …

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S&P Global Ratings’ upgraded rating for Newcastle-Upon-Tyne hospital debt is covered in the specialist press

S&P Global Ratings has raised its rating from ‘BB-’ to ‘BB+’ on the senior-secured debt issued by Healthcare Support (Newcastle) Finance Plc. – the UK-based special purpose vehicle that is funding and designing two new facilities at the Newcastle-Upon-Tyne Hospitals NHS Foundation Trust. The debt, comprising a £115 million senior secured European Investment Bank loan …

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S&P Global Ratings’ Michael Ferguson explains why American hydropower is undergoing a financing renaissance in an article for Business Green

At first glance, America’s hydropower generators may appear peripheral to the country’s grid, but according to Michael Ferguson, S&P Global Ratings’ Head of US Energy Infrastructure, there is more than meets the eye. Writing for Business Green, Ferguson argues that although new plants are all but prohibited, and many assets are fast approaching their useful …

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S&P’s Michael Ferguson shows that U.S. hydropower remains a promising asset in a feature for AlphaQ

Although hydropower’s future in America’s energy strategy is unclear following the election of President Trump, Michael Ferguson, director, US Energy Infrastructure, S&P Global Ratings, believes that U.S. hydro assets will remain resilient. In a guest commentary for AlphaQ’s February edition, Ferguson explains that, by leveraging hydropower facilities’ advantages – such as longevity, low variable cost …

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