S&P Global Ratings publishes its latest edition of Global Infrastructure Finance Outlook

What key trends do infrastructure investors face in 2019? For one, nationalist and populist movements are on the rise – creating an environment of heightened political risk, which investors may find hard to navigate. The result could weigh heavily on regulatory stability, as well as country risk or sovereign credit quality.

In tandem, environmental, social, and governance (ESG) matters are beginning to rise in prominence. Increasingly, investors are stepping up their focus in their investment mandates on companies that are seen as acting more sustainably.

Against this backdrop, the latest edition of Outlook keeps investors abreast of the most-read research from the past quarter – offering insights into how the Infrastructure segment is changing and, importantly, how it may yet evolve.

Outlook is available in PDF here

Moorgate compiles, edits and designs Infrastructure Finance Outlook.

S&P Global Ratings explores rising political and regulatory risk in its latest edition of Infrastructure Finance Outlook magazine

S&P Global Ratings has published its latest edition of Infrastructure Finance Outlook – the quarterly newsletter reviewing the global infrastructure sectors’ key new stories.

Focusing on the rise of political and regulatory risk across the world, this quarter’s Infrastructure Finance Outlook provides global insights from S&P Global analysts on topics including: Brexit’s role in shaping the future of air travel between the U.K. and E.U; whether India can close its infrastructure gap; the path for multilateral lenders looking to increase their engagement with the private sector; as well as the growing importance of ESG factors for infrastructure investment.

Read the latest edition here

Moorgate compiles, edits and designs Infrastructure Finance Outlook.

S&P Global Ratings publishes Infrastructure Finance Outlook, its latest quarterly newsletter


S&P Global Ratings has published its latest edition of Infrastructure Finance Outlook – the quarterly newsletter reviewing the global infrastructure sectors’ key new stories.

Changes in regulations and advances in technology have plunged the infrastructure sector into a period of disruption. In this edition, S&P Global Ratings discuss the credit risks and opportunities that the rise of autonomous vehicles and smart cities present to investors and issuers – as well as how political and regulatory risk and sustainable finance initiatives are evolving.

Moorgate compiles, designs and edits Infrastructure Finance Outlook.

Read it here.

 

S&P Global Ratings publishes its latest quarterly newsletter, Infrastructure Finance Outlook

S&P Global Ratings has published its latest edition of Infrastructure Finance Outlook – the quarterly newsletter reviewing the global infrastructure sectors’ key new stories.

Amid a raft of regulatory and technological disruption, many segments of the infrastructure space are in the midst of change. This edition discusses the most pressing challenges and opportunities that infrastructure investors and issuers are talking about.

Outlook is available in PDF and in e-book formats.

Moorgate compiles and edits Infrastructure Finance Outlook.

S&P Global Ratings releases 2017’s first quarterly Infrastructure Finance Outlook newsletter

The new edition of IFR Outlook brings together the major commentaries, ratings updates and news in the global infrastructure sector over the first three months of 2017.

Making the front page is an in-depth feature on the credit implications of “bundling” of project finance assets. Senior director Trevor D’Olier-Lees argues that aggregating assets can “unlock potential” in industries across the infrastructure spectrum.

Next up on the agenda is the impact of Basel III regulation, as managing director Michael Wilkins explains that while bank lending may struggle to adjust to the changing regulatory environment, more innovative financing in the capital markets might find space to grow – with the Middle East’s Gulf Cooperation Council (GCC) already leading the way.

S&P’s analysts also explore the latest trends in the infrastructure world. They call out the challenges facing telecommunications companies, outline the current credit outlooks in the global utilities sector, and map out a likely route taken by toll-road operators. Director Michael Ferguson, meanwhile, takes a dive into the US hydropower sector, asking how generators might keep their heads above water in Trump’s energy market.

For all the ratings news and updates making the headlines and more, read the edition online in ebook or pdf format.

 

Moorgate compiles and edits IFR Outlook.

Trump, energy and the environment – S&P Global Ratings releases the December issue of IFR Outlook

captureS&P has released the December edition of IFR Outlook, the newsletter of key infrastructure and project finance-related research and rating news.

In the front-page feature, Michael Wilkins, head of environmental and climate risk research, assesses global trends in climate finance. Looking back at the year since the Paris Agreement, he explains that continued development of the global green bond market is needed to convert politics into action and secure a low-carbon future. Continuing the environmental theme, director Miroslav Petkov explains S&P’s methodology behind evaluations of infrastructure projects intended to adapt to the effects of climate change.

In the wake of the US election, director Michael Ferguson explores the likely credit impacts of a Trump administration on the country’s energy sector, assessing everything from renewables and ethanol to coal and fracking. Also in the energy sphere, credit analyst Vittoria Ferraris outlines the next steps for Germany’s second-largest utility, RWE and its subsidiary Innogy, following Europe’s largest initial public offering (IPO) since 2011. In another feature on utilities, director Pierre Georges weighs in on the pension benefit obligations of Europe’s top 20 companies.

In other news, S&P has revised its outlook on UK-based road operator Autolink Concessionaires to positive, rated Spanish Redexis Gas ‘BBB’ with a stable outlook, and assigned a ‘BB+’ corporate credit rating to Saudi Arabian utility company ACWA Power Management and Investments One Ltd, with a preliminary ‘BBB-’ rating to the company’s proposed senior secured bond issue.

To view these articles and more, please see the full version of the newsletter in PDF or e-book format

S&P Global Ratings goes green with its latest edition of IFR Outlook

captureThe latest edition of IFR Outlook – S&P’s monthly newsletter summarising key infrastructure and project finance-related research and rating update news – is out now, and the outlook is green-tinted. This month, Michael Wilkins, Managing Director of Infrastructure Finance and Head of Global Environmental & Climate Risk Research, describes a new product to analyse and estimate the environmental impact of bond projects or initiatives via a ‘green’ bonds rating, while Laurence Hazell, Director, explains S&P’s proposal for, and methodology behind, Environmental, Social, And Governance (ESG) Assessments. The timing couldn’t be better, as green bond issuance in real estate is showing real signs of growth, particularly in Europe, according to the article contributed by Analyst and Senior Director, Eric Tanguy.

Of course, the issue of Brexit’s impact on investor appetite for the UK’s infrastructure sector remains a running theme. Michael Wilkins suggests that while confidence is still shaken, things could pick up in the longer term.

Also under scrutiny are the UK’s top six energy companies, Centrica, EDF, SSE, RWE, E.ON, and Scottish Power. Pierre Georges, Director in Utilities, explains that government reforms designed to stimulate competition in the power sector threaten to constrain revenues and market shares for the ‘Big Six’.

Across the Atlantic, Michael Ferguson, Director of US Energy Infrastructure, explores the future of the US nuclear industry, explaining that low gas prices are putting pressure on generators, resulting in the retirement of more nuclear plants.

And from Dubai, Karim Nassif, Regional Head, suggests that low oil prices, subdued economic growth and cheap bank funding relative to the capital markets are to blame for the sluggish corporate and infrastructure sukuk market in the Gulf Cooperation Council (GCC).

In other news, S&P has improved its rating on Scotland And Southern Gas Networks to ‘BBB+’, while its outlooks on oil and gas companies Azerenerji and SOCAR have been revised to negative following similar updates on the state of Azerbaijan.

To view these articles and more, please see the full version of the newsletter in PDF or e-book format.