Research Update: Exchequer Partnership (No. 2) PLC Bonds Standard&Poor's Underlying Rating Raised To 'A'; Outlook Negative - S&P Global Ratings’ Credit Research

Research Update: Exchequer Partnership (No. 2) PLC Bonds Standard&Poor's Underlying Rating Raised To 'A'; Outlook Negative

Research Update: Exchequer Partnership (No. 2) PLC Bonds Standard&Poor's Underlying Rating Raised To 'A'; Outlook Negative - S&P Global Ratings’ Credit Research
Research Update: Exchequer Partnership (No. 2) PLC Bonds Standard&Poor's Underlying Rating Raised To 'A'; Outlook Negative
Published Jul 05, 2017
6 pages (2109 words) — Published Jul 05, 2017
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Exchequer Partnership (No. 2) PLC (ProjectCo) has replaced its bank account provider, National Westminster Bank PLC (NatWest), with Bank of Scotland PLC. As a result, we are raising our Standard&Poor's underlying rating (SPUR) on ProjectCo to 'A' from 'BBB+', in line with the rating on Bank of Scotland, which constrains the SPUR. The outlook on the SPUR is negative, reflecting the outlook on the rating on Bank of Scotland. The 'AA' long-term issue credit rating on the £165 million 5.396% fixed-rate senior secured bonds due 2036 issued by ProjectCo reflects the unconditional and irrevocable guarantee provided by Assured Guaranty (Europe) Ltd. The stable outlook on the issue rating reflects that on Assured Guarantee and will move in line

  
Brief Excerpt:

...Exchequer Partnership (No. 2) PLC (ProjectCo) has replaced its bank account provider, National Westminster Bank PLC (NatWest), with Bank of Scotland PLC....

  
Report Type:

Research Update

Issuer
Exchequer Partnership (No. 2) PLC
GICS
Environmental & Facilities Services (20201050)
Sector
Global Issuers
Country
United Kingdom
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Exchequer Partnership (No. 2) PLC Bonds Standard&Poor's Underlying Rating Raised To 'A'; Outlook Negative" Jul 05, 2017. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Exchequer-Partnership-No-2-PLC-Bonds-Standard-Poor-s-Underlying-Rating-Raised-To-A-Outlook-Negative-1878674>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Exchequer Partnership (No. 2) PLC Bonds Standard&Poor's Underlying Rating Raised To 'A'; Outlook Negative Jul 05, 2017. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Exchequer-Partnership-No-2-PLC-Bonds-Standard-Poor-s-Underlying-Rating-Raised-To-A-Outlook-Negative-1878674>
  
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