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| Leighton Ratings Unaffected by the collapse of a Lane Cove Tunnel Standard & Poor's Ratings Services said the 'AAA' credit rating on Lane Cove Tunnel Finance Co. Pty. Ltd.'s (LCTFC) credit-wrapped senior debt, and the 'BBB+/Stable' corporate credit rating on Leighton Holdings Ltd. are not immediately affected by the collapse of a Lane Cove Tunnel ventilation shaft. Leighton's ratings are unaffected by the incident because of the existing insurance package and because, as the company has reported, the incident has not affected the construction's critical path. Therefore, the incident is not expected to delay the project's completion, scheduled for May 2007. Remediation costs are yet unknown. To date, construction has been slightly ahead of schedule. write your comments about the article :: © 2005 Construction News :: home page |