On Dec. 14, 2022, S&P Global Ratings published its updated criteria for rating project finance transactions, "General Project Finance Rating Methodology" and "Sector-Specific Project Finance Rating Methodology." We have completed our review of four project finance issues under the updated criteria. As a result, S&P Global Ratings affirmed its 'A-' rating on 407 East Development Group G.P..'s senior secured bonds, its 'A-' rating on Capital City Link G.P..'s senior secured bonds, its 'A-' rating on Chinook Roads Partnership's senior secured bonds, and its 'BBB' rating on Northwestconnect G.P..'s senior secured bonds. The outlooks on all ratings are stable. The stable outlook reflects our expectation that the project's operating and financial performance will be steady in the next two years, spurred
