This presentation is designed to bring conference delegates up-to-date with developments in the toll road and shadow toll road sectors, specifically from the perspective of a leading credit ratings agency. Evolving legislative frameworks, new financing structures, tightened contractual obligations and pressing infrastructure demands are but a few of the factors driving change within the industry, and credit assessment methodologies continue to evolve in response, although perhaps not in ways that are immediately obvious to all. Under the PPP banner, a number of countries are currently rolling-out ambitious plans for new build and maintenance programmes. Some important project finance lessons have been learned over the last decade, and a number of these programmes are stronger or better focused as a result. Perhaps more than ever before, however, investors are looking to credit rating agencies to fill an important information gap as it becomes increasingly challenging to track project performance and monitor sector trends. For the covering abstract see ITRD E124693.
Abstract