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S&P: Metronet on positive watch
Standard & Poor's said it revised its CreditWatch implications to positive from negative on the senior secured bonds of Metronet Rail BCV Finance plc and Metronet Rail SSL Finance plc.
The agency said that the CC long-term underlying debt rating on the £165 million index-linked bonds and the £350 million fixed-rate bonds due 2032 were originally placed on CreditWatch with negative implications on May 22, 2007.
The CC long-term debt rating on Metronet companies' £810 million senior secured bank loan facilities due 2030 remains on CreditWatch with negative implications, where it was placed also on May 22, 2007, S&P added.
At the same time, S&P said it affirmed its AAA debt ratings on the fixed-rate and index-linked bonds guaranteed by Financial Security Assurance (U.K.) Ltd. (AAA/stable).
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