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Assured Guaranty UK Limited (AGUK*) announces that it has guaranteed scheduled principal and interest payments on approximately £327 million of index-linked secured bonds (the Bonds) raised in the public market by QAH Finance Plc (the Issuer), a newly incorporated special purpose company.
The proceeds from the Bonds finance the Issuer's acquisition of an index-linked Credit Guarantee Loan from the Department of Health and Social Care, the existing funder of the Queen Alexandra Hospital PFI Project in Portsmouth. The underlying rating of the Issuer is Baa1 by Moody's Investors Service Limited and, as a result of AGUK's guarantee, the Bonds are rated A2 (Stable) by Moody's Investors Service Limited.