Tuesday 01 July 2014 by Legacy

Moody’s rerates infrastructure bonds

On 26 June, Moody’s updated its rating guidance for five Public Private Partnerships (PPPs) which have issued bonds. It downgraded two: Praeco and Western Liberty Group. Each of the PPPs carries a degree of refinancing risk in relation to its existing project debt facilities. The table below summarises each of the projects subject to the updated guidance. Refinancing across each of these projects will be required between 2017 and 2022 around halfway through each of their concession periods.

Please contact your FIIG dealer for a copy of the detailed FIIG research report in relation to these individual PPP projects.