Chinook Roads Partnership has entered a project agreement to design, build, finance, maintain, and rehabilitate the Southeast Stoney Trail (SEST), as well as operate and maintain certain segments of the existing highway in Calgary, Alta., which Alberta Transportation has or will construct. The rating on Chinook's C$156.7 million, 7.134% senior secured bond due March 31, 2043, broadly reflects Standard&Poor's Ratings Services assessment of the following factors: A strong rationale for the project, as the new infrastructure will almost complete Calgary's ring road; A very experienced project team, including a highly capable design-build joint venture (DBJV) in SNC-Lavalin Constructors (Pacific) Inc. (SNCC) and Acciona Infrastructures Canada Inc. (AIC); Acciona S.A. (Acciona) and highly rated SNC-Lavalin Group Inc. (SNC; BBB+/Stable/--)
