Transaction Update: Exchequer Partnership (No. 2) PLC - S&P Global Ratings’ Credit Research

Transaction Update: Exchequer Partnership (No. 2) PLC

Transaction Update: Exchequer Partnership (No. 2) PLC - S&P Global Ratings’ Credit Research
Transaction Update: Exchequer Partnership (No. 2) PLC
Published May 25, 2012
4196 words — Published May 25, 2012
Price US$ 375.00  |  Buy this Report Now

About This Report

  
Abstract:

Under a U.K. government private finance initiative (PFI) for 34 years and nine months (including a 25-month refurbishment period, Exchange Partnership (No.2) [EP2 or ProjectCo]) is using the bond proceeds to finance the refurbishment of about one-half of the Grade II-listed government offices on Great George Street in the Whitehall area of London. The 'AA-' long-term insured debt rating on the £166 million 5.396% fixed-rate senior secured bonds due 2036 issued by U.K.-based special-purpose vehicle Exchequer Partnership (No. 2) PLC (EP2; ProjectCo) reflects the unconditional and irrevocable guarantee provided by Assured Guaranty (Europe) Ltd. (AGE; AA-/Stable/--) of payment of scheduled interest and principal on the bonds. The underlying 'A-' rating on the bonds reflects a composite of credit factors outlined

  
Brief Excerpt:

RESEARCH Transaction Update: Exchequer Partnership (No. 2) PLC Publication date: 25-May-2012 Primary Credit Analyst: Michael Wilkins, London (44) 20-7176-3528; mike_wilkins@standardandpoors.com Secondary Contact: James Hoskins, London...

  
Report Type:

Transaction Update Report

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

  
MLA:
S&P Global Ratings’ Credit Research. "Transaction Update: Exchequer Partnership (No. 2) PLC" May 25, 2012. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Transaction-Update-Exchequer-Partnership-No-2-PLC-969793>
  
APA:
S&P Global Ratings’ Credit Research. (). Transaction Update: Exchequer Partnership (No. 2) PLC May 25, 2012. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Transaction-Update-Exchequer-Partnership-No-2-PLC-969793>
  
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