LONDON (Standard & Poor's) Jan. 31, 2006--Standard & Poor's Ratings Services said today that it raised its underlying long-term senior secured debt rating on the ú166 million bonds issued by Exchequer Partnership (No. 2) PLC (EP2), due 2036, to 'BBB+' from 'BBB', reflecting the positive implications of ongoing operational efficiency gains and cost savings achieved since construction was completed in advance of program and within budget. The outlook on the underlying rating is stable. At the same time, the 'AAA' insured rating on the debt was affirmed, reflecting the unconditional and irrevocable guarantee of payment of scheduled interest and principal on the bonds provided by Financial Security Assurance (U.K.) Ltd. (AAA/Stable/--). Standard & Poor's also assigned a recovery rating of
