Latest news with #Acciona
Yahoo
4 days ago
- Business
- Yahoo
KBRA Assigns Preliminary Ratings to Public Finance Authority (Georgia SR 400 Express Lanes Project) $3.6 Billion PABs and SR 400 Peach Partners, LLC's $4 Billion TIFIA Loan
NEW YORK, July 16, 2025--(BUSINESS WIRE)--KBRA assigns its BBB+ preliminary rating to the Public Finance Authority's $3.6 billion senior lien toll revenue bonds, series 2025 (Georgia SR 400 Express Lanes Project) (the private activity bonds (PAB)), which support the Georgia SR 400 Express Lanes Project. KBRA also assigns its BBB preliminary rating to SR 400 Peach Partners, LLC's $4 billion TIFIA loan. The Outlook is Stable. In August 2024, the consortium formed by Meridiam SR-400, LLC, Acciona Concesiones S.L., and ACS Infrastructure Development Inc. (collectively the sponsors) was selected as the preferred bidder to develop the SR 400 express lanes in Atlanta (the project) through SR 400 Peach Partners, LLC (the borrower), a single-purpose vehicle to be wholly owned by the sponsors. The project is part of GDOT's major mobility investment program (MMIP). The dynamically-priced express lanes will extend through 16 miles along Georgia state route 400, between the MARTA North Spring Station in Fulton County, and McFarland Parkway in Forsyth County. The project is a key north-south corridor serving the Atlanta-Sandy Springs-Alpharetta metropolitan area, connecting the city to its northern suburbs. The Public Finance Authority will place approximately $3.6 billion in private activity bonds (PAB) as a conduit issuer and will lend the proceeds to the borrower. Concurrently, the borrower will enter into a separate loan agreement with TIFIA for an additional $4 billion that will be generally subordinated to the PABs. To access ratings and relevant documents, click here. Click here to view the report. Methodologies Project Finance & Infrastructure: Project Finance Global Rating Methodology ESG Global Rating Methodology Disclosures Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above. A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at About KBRA Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan's Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S. Doc ID: 1010377 View source version on Contacts Analytical Contacts Maria de Urquijo, Senior Director (Lead Analyst)+1 Francesca Ciatto, Analyst+1 Adeeti Amin, Managing Director (Rating Committee Chair)+1 Business Development Contacts Rosemary Kelley, Senior Managing Director, Head of Structured Finance and Project Finance+1 Mark Lazarus, Senior Director+1
Reuters
26-06-2025
- Business
- Reuters
Acciona finds no irregularities in contracts mentioned in Spanish graft probe
MADRID, June 26 (Reuters) - Spanish construction company Acciona ( opens new tab said on Thursday it had found no evidence of irregularities in public works contracts at the centre of a corruption investigation that has rocked the ruling Socialist party. The case relates to a former employee who left Acciona in 2021 and who contracted Servinabar 2000 - a company being investigated by police for alleged corruption - as a partner in a joint venture, Acciona CEO Jose Manuel Entrecanales told the company's annual shareholder meeting. Acciona has more than 30,000 such partners, he said. Servinabar has said it has not committed any crimes, according to local media. Reuters has not been able to reach Servinabar for comment. The case has roiled Spanish politics, with Prime Minister Pedro Sanchez promising an overhaul of his party after media published a police report that included recordings showing former members of his inner circle appearing to discuss kickbacks on public infrastructure projects. The police have not confirmed the contents of the leaked report, of which Reuters has seen a copy. Acciona said its legal team had found no evidence of bribery payments or of any irregularities in the awarding of its contracts mentioned in the report. No complaints have been lodged by other companies regarding the tenders in various Spanish regions, the company added. Last week, Santos Cerdan stepped down as number three in the Socialist Party after the leaked recordings appeared to show him discussing bribes with former Transport Minister Jose Luis Abalos. Both have insisted they are innocent and suggested the recordings could have been manipulated. At least three shareholders raised concerns about the investigation at Acciona's annual meeting, but Entrecanales said the probe was unlikely to impact the company's Spanish construction business, which accounts for just 3% of revenues at its global construction business. Acciona has begun terminating contracts with Servinabar and has dismissed the head of its construction department in Spain for failing to adequately supervise the former employee, it said.
NZ Herald
22-06-2025
- Business
- NZ Herald
Fletcher Building joint venture resolves dispute with NZTA over Puhoi motorway delay
Fletcher Building and its 50% joint venture partner Acciona have reached a settlement with the NZ Transport Agency and the Northern Express Group over Covid-related delays to the construction of the Puhoi to Warkworth motorway. The motorway opened in June 2023, well beyond its original December 2021 scheduled opening. The
Zawya
18-06-2025
- Business
- Zawya
Acciona consortium lands Egypt wastewater treatment complex deal
Spanish infrastructure major Acciona has announced that its consortium with Egyptian company DHCU has secured the contract to provide operation and maintenance services for Phase II of the Gabal El Asfar wastewater treatment complex. The contract was awarded by Cairo-based Construction Authority for Potable Water and Wastewater (CAPW) for a eight-year period. The project scope includes rehabilitation works and upgrades on two plants of the complex, each with a capacity of 500,000 cu m per day. Gabal El Asfar is the largest wastewater treatment facility in Africa and the Middle East, and the third largest in the world in terms of treatment capacity, at 2.5 Hm³ per day. It serves the eastern part of Cairo which has a population of eight million people. Acciona said it has extensive experience in water treatment in Egypt. In 2013, it was awarded the contract for the design, construction and commissioning of an expansion of Gabal El Asfar, increasing its daily treatment capacity by 500,000 cu m. In 2022, the company, also together with DHCU, won the contract to carry out the operation, maintenance and improvement of Phase I of the oldest wastewater treatment plant (WWTP) of the complex, with a capacity of 1.5 Hm³ per day. The Spanish infrastructure giant has also worked, together with CAPW, on the operation of the water infrastructure for the upper-level water supply network in New Cairo, a satellite city of Cairo, located about 30km east of the capital. This contract includes the collection of water from the Nile River, its transport to a drinking water treatment plant and its treatment and subsequent storage before being supplied to consumers, said Acciona in its statement. The company has also been involved in the construction of five other drinking water treatment plants in the country -Almerya, Rod El Farag, Mostorod, North Helwan I and North Helwan II) - with a total treatment capacity of more than 600,000 cu m per day that can serve an estimated population of more than six million, it added.
Global News
04-06-2025
- Business
- Global News
Court turfs Metro Vancouver attempt to delay sewage plant legal battle
A B.C. Supreme Court judge has denied Metro Vancouver's attempt to delay an ongoing legal battle with Acciona, the former contractor of the North Shore Wastewater Treatment Plant. The North Shore Wastewater Treatment Plant is an estimated $3 billion over budget. Metro Vancouver blames the disaster on contractor Acciona, which it fired. Acciona maintains that Metro Vancouver's failure to deliver on its obligations prompted their $250 million damage claim. 1:59 Fired wastewater plant contractor fires back at Metro Vancouver In a July 2024 interview, Metro Vancouver's CAO said Acciona had failed to deliver. Story continues below advertisement Jerry Dobrovolny said, 'One of the difficulties we have is we're locked in litigation with our previous contractor, who we let go for not delivering on what was contracted'. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy In his ruling, Justice Bruce Elwood stated, 'I am persuaded that there is a real risk to Acciona of a loss of evidence if the adjournment is granted' and 'if the trial is adjourned, there will be a further three-and-a-half-year delay … For these reasons, the application to adjourn the trial is dismissed.' Elwood also ruled that Metro Vancouver 'is a sophisticated litigant represented by one of the leading law firms in the country. The resources required to litigate this case on the current schedule are not disproportionate to the amount of money involved.' 2:43 Wastewater treatment plant debacle Metro Vancouver told Global News, 'Acciona has produced nearly four million documents, an extraordinarily large document production that disrupts the usual flow of the litigation process.' Story continues below advertisement The regional district added that it 'respects Justice Elwood's decision and will continue to work diligently to prepare for the March 2027 trial date.' Acciona responded, 'We welcome the court decision and will continue to work towards a timely resolution. Acciona remains committed to full transparency and a full review of this project by the court.'
