Category: Project Finance

City Of Gothenburg receives first Green Evaluation for municipal green bond, with a score of E2/67, covered by the specialist press

  The City of Gothenburg received a score of ‘E2/67’ on S&P Global Ratings’ new Green Evaluation scale for its Swedish krona (SEK) 1 billion of green bonds due on 15th June, 2022. The bonds, issued on 15th June 2016, have been allocated to fund a number of eligible projects as part of the Swedish …

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S&P Global Ratings assigns first green evaluation to Cross Sound Cable LLC, covered by the specialist press

S&P Global Ratings’ first assigned Green Evaluation was to Cross Sound Cable LLC – a high voltage electrical transmission company. Argo Infrastructure Partners used US$120 million of privately placed debt to fund a portion of the acquisition of the Cross-Sound Cable project in August 2015. This undersea cable project transmits power from renewable-rich New England …

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S&P Global Ratings reports the U.K’s less efficient water utilities are at-risk from Ofwat’s regulatory changes, covered by specialist press

A recently-published report by S&P Global Ratings claims that U.K.-based water utilities may face lower returns after 2020. This came after elements of industry regulator Ofwat’s methodology for its upcoming Price Review emerged. To compensate for utilities’ lower takings, the regulator is proposing attractive performance-based financial incentives. While this increased scope for earnings from incentives …

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S&P Global Ratings’ report warning of diminishing demand for U.K. university accommodation is covered by specialist press

A recently-published paper by S&P Global Ratings has raised concerns that accommodation demand at the UK’s lower-ranked universities could fall – amid growing competition among the country’s higher education institutions. While long-term investors remain interested in university accommodation, S&P believes the sector faces mounting pressure – as a consequence of the decline in number of …

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America’s trillion-dollar challenge: S&P Global Ratings’ Trevor D’Olier-Lees writes for Infrastructure Intelligence

Infrastructure in the US needs trillions of dollars of investment for repairs and renewal. Pressure will only mount as disruptive technology increases in scope and the need to be environmentally sustainable rises up the agenda. In a feature for Infrastructure Intelligence, Trevor D’Olier-Lees, senior director at S&P Global Ratings, outlines the state of a selection of American …

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S&P Global Ratings’ warning that Atlantia’s proposed Abertis takeover could cause a rating downgrade is covered by specialist press

  In June 2017, Italy-based infra holding company, Atlantia SpA, formally launched a €16.3 billion voluntary tender offer for all outstanding shares of Spain-based Abertis Infraestructuras S.A – a leader in toll road management. If approved, the deal will represent the largest foreign acquisition by an Italian company since 2007 and would create the world’s …

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S&P’s Luisina Berberian discusses the rise of offshore wind power projects in Energy Voice

Global investment in offshore wind projects is soaring – propelled by rising investment in renewables, lower market costs, greater climate change awareness worldwide, and developments in technology. With Europe still standing tall as the regional world leader in offshore wind power, other regions are fast recognising the benefits. While these regions try to emulate the …

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S&P Global Ratings’ report discusses the boom in offshore wind projects as technology improves and costs fall – covered by specialist press

In Europe, investment in the offshore wind industry has grown at an annual average rate of 30% in the past five years. Elsewhere – such as in the Americas and China – the industry is striving to follow Europe’s lead. But first these regions must overcome a raft of barriers, namely technological concerns, regulatory issues, and …

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S&P Global Ratings’ BBB+ rating for Essex University accommodation bond issuance covered by specialist press

  S&P Global Ratings has assigned its ‘BBB+’ Standard and Poor’s underlying rating (SPUR) Rating to ULiving@Essex2’s £60.6 million secured bond issuance. The funds will finance the construction of a new halls of residence project at the University of Essex. In addition, S&P Global Ratings has issued its ‘AA’ long term rating to the issuance. …

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S&P Global Ratings unveils a major new overview of the state of US infrastructure

S&P Global Ratings has released a major new report, “Developing US Infrastructure In An Era Of Emerging Challenges: Observations From Key Sectors”. The paper assesses the condition of selected American infrastructure sectors, outlines the specific challenges faced in each, and offers an overview of the methods available to finance them.