Canadian Health Care P3s: Robust Performance And Risk Mitigation Outweigh Challenges - S&P Global Ratings’ Credit Research

Canadian Health Care P3s: Robust Performance And Risk Mitigation Outweigh Challenges

Canadian Health Care P3s: Robust Performance And Risk Mitigation Outweigh Challenges - S&P Global Ratings’ Credit Research
Canadian Health Care P3s: Robust Performance And Risk Mitigation Outweigh Challenges
Published Oct 19, 2021
14 pages (5201 words) — Published Oct 19, 2021
Price US$ 600.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings rates 30 Canadian public-private partnership (P3) projects, including 11 health care P3s with construction and operations and/or maintenance risk, totaling ~C$ 3.7 billion of debt. Of our portfolio in Canada, 73% has an 'A' category rating and just two ratings are on negative outlook. At S&P Global Ratings we analyze the creditworthiness of health care P3 projects using our "Project Finance Framework Methodology," published Sept. 16, 2014, and "Key Credit Factors For Social Infrastructure, Accommodation, And Entertainment Project Financings," published Sept. 16, 2014. All health care P3s in our portfolio are availability-based and now operational. Compared to other infrastructure asset types, availability-based social infrastructure projects tend to have a stable rating performance. A 2021 study on Annual

  
Brief Excerpt:

... have played an important role in delivering Canadian health care infrastructure with C$19.24 billion invested in 49 projects with construction and operations and/or maintenance risk. - The performance of S&P Global Ratings' rated health care P3 portfolio has been robust and shown that risk-transfer mechanisms have generally worked. However, there have been performance-related hiccups on certain health care P3s and counterparty creditworthiness remains key to project rating. - During operation, ramp-up and size of facilities are critical for the facilities' performance. Maintaining appropriate temperature/humidity and availability of elevators are common operation challenges faced by hospital projects. Effective lifecycle management over the life of the concession is key as these facilities age. S&P Global Ratings rates 30 Canadian public-private partnership (P3) projects, including 11 health care P3s with construction and operations and/or...

  
Report Type:

Commentary

Sector
Global Issuers
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Canadian Health Care P3s: Robust Performance And Risk Mitigation Outweigh Challenges" Oct 19, 2021. Alacra Store. Nov 30, 2021. <http://www.alacrastore.com/s-and-p-credit-research/Canadian-Health-Care-P3s-Robust-Performance-And-Risk-Mitigation-Outweigh-Challenges-2740600>
  
APA:
S&P Global Ratings’ Credit Research. (). Canadian Health Care P3s: Robust Performance And Risk Mitigation Outweigh Challenges Oct 19, 2021. New York, NY: Alacra Store. Retrieved Nov 30, 2021 from <http://www.alacrastore.com/s-and-p-credit-research/Canadian-Health-Care-P3s-Robust-Performance-And-Risk-Mitigation-Outweigh-Challenges-2740600>
  
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