| Title: | Transaction Update: Discovery Education PLC |
| Price: | $300.00 |
| Publication Date: | Apr 30, 2008 |
| Report Type: | Full Report |
| Abstract: | The insured 'AAA/Negative' rating on the £103.8 million senior secured index-linked bonds, including £17.0 million variation bonds, due 2037, issued by U.K.-based special-purpose vehicle Discovery Education PLC (ProjectCo) reflects the unconditional and irrevocable guarantee provided by Ambac Assurance U.K. Ltd. (AAA/Negative/--) of payment of scheduled interest and principal on the bonds. The 'BBB-' underlying rating on the bonds reflects a composite of credit factors. ProjectCo is using the bonds' proceeds to fund the construction of six primary schools and two secondary schools on eight sites in Dundee, Scotland, under a 30-year private-finance initiative (PFI). The works are being completed in three phases during 2008 and 2009. ProjectCo will also provide specified hard and soft facilities management (FM) services at each |
| Brief Excerpt: | RESEARCH Ratings Definitions Transaction Update: Discovery Education PLC Publication date: ##-Apr-#### Primary Credit Analyst: James Hoskins, London (##) ##-####-####; james_hoskins@standardandpoors.com Secondary Credit Analysts:... |
| Word Count: | 2011 |
| Issuer: | Discovery Education PLC |
| Sector: | Global Issuers, Utilities |
| Country: | United Kingdom |
| Region: | Europe, Middle East, Africa |
| Format: | 
HTML
|
| Free Sample: |
Click
Here
to Download
|
Looking For Something Else?
