Moody's lifts Access Prairies to stable view

Moody's Investors Service said it changed the outlook on Access Prairies Partnership to stable from negative and affirmed its A3 senior secured rating.

The outlook revision reflects the expected purchase by SNC-Lavalin Operations & Maintenance Inc. of the service provider that provides all operations, maintenance and rehabilitation to Access Prairies, Moody's said.

This purchase provides long-term stability to Access, the agency noted.

The company's A3 senior secured rating considers the fact that the operating requirements for the project are relatively benign and primarily limited to hard facilities management services, Moody's explained.

Access is now receiving availability payments from an Aaa-rated government with such payments only being subject to deduction for unavailability or service failures, the agency said.

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