KBRA Publishes Project Finance Research – Public-Private Partnerships: When Subcontractors Collapse
NEW YORK--(BUSINESS WIRE)--Feb 27, 2019--In public-private partnership (PPP) projects, a public-sector entity usually awards a concession-based contract to a special-purpose vehicle owned by private investors to design, build, finance, operate, and maintain a specific asset—such as a school, hospital or road—over a defined period. The private sector needs the asset to be constructed on time and within budget before it can reap cash flow. While most projects are built to completion, there are instances when contractors default.
KBRA’s Project Finance group has published an article discussing the impact of a contractor default and the remedies available to lenders under such a scenario.
To view the report, please click here.
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KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus, is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.
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PUB: 02/27/2019 11:25 AM/DISC: 02/27/2019 11:25 AM