credit rating withdrawal rationale

The assessment of the bond issue of SPV Transport Infrastructure LLC has been withdrawn because the issuer decided not to place this issue. Before the withdrawal, the Agency confirmed the compliance of the project that was planned to be refinanced using the proceeds from the bond issue for purposes related to financing and/or refinancing of projects aimed at developing public life and complying with internationally recognized principles and standards in the field of social financing and/or sustainable development, and also confirmed the compliance of the bonds with the Social Bond Principles (SPB) of the International Capital Market Association (ICMA).

additional information

The assessment of the project that was planned to be refinanced as part of the social bond issue of SPV Transport infrastructure LLC for compliance with internationally recognized principles and standards in the field of social financing and/or sustainable development, as well as of the bonds themselves — for compliance with the SBP, were performed based on the Methodology for Assessing Social Debt Obligations and Sustainable Development Debt Obligations with regard to social bonds.

ACRA published its opinion on the compliance of the project that was planned to be refinanced by the issuer with internationally recognized principles and standards in the field of social financing and/or sustainable development, and also on the compliance of the bonds of SPV Transport infrastructure LLC with the SBP for the first time on June 28, 2021.

ACRA’s opinion on the compliance of the project that was planned to be refinanced by the issuer with internationally recognized principles and standards in the field of social financing and/or sustainable development, and also on the compliance of the issue of social bonds with the SBP was based on data provided by SPV Transport infrastructure LLC, information from publicly available sources, and ACRA’s own databases.

The assessment of compliance of the social bonds and the project that was planned to be refinanced by the issuer was solicited, and SPV Transport infrastructure LLC participated in the assessment process.

In assigning the assessment, ACRA used only information, the quality and reliability of which was, in ACRA’s opinion, appropriate and sufficient to apply the methodologies.

No conflicts of interest were discovered in the course of the assessment process.

The assigned assessment is not a credit rating.

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