407 International Inc.'s C$350 Million Senior Secured Debt Issue Due 2027 Rated 'A' - S&P Global Ratings’ Credit Research

407 International Inc.'s C$350 Million Senior Secured Debt Issue Due 2027 Rated 'A'

407 International Inc.'s C$350 Million Senior Secured Debt Issue Due 2027 Rated 'A' - S&P Global Ratings’ Credit Research
407 International Inc.'s C$350 Million Senior Secured Debt Issue Due 2027 Rated 'A'
Published Nov 03, 2016
3 pages (1070 words) — Published Nov 03, 2016
Price US$ 150.00  |  Buy this Report Now

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Abstract:

TORONTO (S&P Global Ratings) Nov. 3, 2016--S&P Global Ratings today said it assigned its 'A' rating and stable outlook to 407 International Inc.'s C$350 million senior secured debt issue due May 4, 2027. We believe the new debt has no impact on 407's credit metrics and the existing ratings on 407 are not affected. Bond proceeds will repay, upon maturity, approximately C$289 million in respect of the company's series 99-A4, due Dec. 1, 2016; finance a reserve account for the new issuance; and fund general corporate purposes. RELATED CRITERIA AND RESEARCH Related Criteria Project Finance Framework Methodology, Sept. 16, 2014 Project Finance Operations Methodology, Sept. 16, 2014 Project Finance Transaction Structure Methodology, Sept. 16, 2014 Key Credit Factors For Road,

  
Brief Excerpt:

...TORONTO (S&P Global Ratings) Nov. 3, 2016--S&P Global Ratings today said it assigned its 'A' rating and stable outlook to 407 International Inc.'s C$350 million senior secured debt issue due May 4, 2027. We believe the new debt has no impact on 407's credit metrics and the existing ratings on 407 are not affected. Bond proceeds will repay, upon maturity, approximately C$289 million in respect of the company's series 99-A4, due Dec. 1, 2016; finance a reserve account for the new issuance; and fund general corporate purposes. RELATED CRITERIA AND RESEARCH Related Criteria + Project Finance Framework Methodology, Sept. 16, 2014 + Project Finance Operations Methodology, Sept. 16, 2014 + Project Finance Transaction Structure Methodology, Sept. 16, 2014 + Key Credit Factors For Road, Bridge, And Tunnel Project Financings, Sept. 16, 2014 + Country Risk Assessment Methodology And Assumptions, Nov. 19, 2013 + Counterparty Risk Framework Methodology And Assumptions, June 25, 2013 + Project Finance...

  
Report Type:

Ratings Action

Ticker
1513Z@CN
Issuer
407 International Inc.
GICS
Highways & Railtracks (20305020)
Sector
Global Issuers
Country
Canada
Region
Canada
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MLA:
S&P Global Ratings’ Credit Research. "407 International Inc.'s C$350 Million Senior Secured Debt Issue Due 2027 Rated 'A'" Nov 03, 2016. Alacra Store. Nov 06, 2026. <http://www.alacrastore.com/s-and-p-credit-research/407-International-Inc-s-C-350-Million-Senior-Secured-Debt-Issue-Due-2027-Rated-A-1750728>
  
APA:
S&P Global Ratings’ Credit Research. (). 407 International Inc.'s C$350 Million Senior Secured Debt Issue Due 2027 Rated 'A' Nov 03, 2016. New York, NY: Alacra Store. Retrieved Nov 06, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/407-International-Inc-s-C-350-Million-Senior-Secured-Debt-Issue-Due-2027-Rated-A-1750728>
  
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