NEW YORK–(BUSINESS WIRE)–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.
About KBRA and KBRA Europe
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.
+353 1 907 9253
Giudici, Senior Managing Director