In This Issue: Despite Risks, Global Public-Private Partnership Deals Are On The Upswing: Governments around the globe have struggled to deliver important public infrastructure investments, as well as control costs without reducing services. To meet growing fiscal demands, governments are increasingly interested in forming public-private partnerships (PPPs) to improve service levels, control costs, and provide the social and physical infrastructure required by growing populations.The Anatomy Of Construction Risk: Lessons From A Millennium Of PPP Experience: Although PPPs are widely acknowledged to have a better record of asset delivery than conventional approaches to public sector procurement, a major survey of construction risk by Standard & Poor's suggests that their successful delivery remains dependent on a number of critical prerequisites. Credit Enhancements (Liquidity Support) In Project Finance And PPP Transactions Reviewed: Traditionally, LOCs have been the main instrument used by issuers to provide payment certainty in adverse circumstances. However, alternate approaches to credit enhancement and liquidity support are increasingly being explored. Australian Public-Private Partnerships Benefiting From Experience: PPPs are in their infancy in Australia, and the sector has followed a steep learning curve. Successful PPPs require that the parties involved have a clear understanding of their contractual obligations and the risks being assumed. U.S. Transportation's PPP Market Continues Down A Long And Winding Road: This could be a breakout year for many U.S. transportation PPP transactions long in the planning stages. Three months into 2007, progress had already been observed on several projects. Laying The Groundwork For Rating State Lottery Securitization Bonds: Whether it's called privatization, securitization, or a PPP, the activity is essentially the same-states are proposing to lease or sell rights to lottery operations in return for a large cash payment upfront, and possibly annual payments thereafter. Canadian PPP Sector Continues To Pick Up Steam: The Canadian PPP market has grown rapidly during the past three years with numerous projects reaching financial close in several provinces. Looking ahead, there appears to be an appetite from sponsors, creditors, and concession grantors for assets with increasing market or volume exposure. Health Care Creates Second Wave Of PPPs In Spain: PPPs are not new to Spain-there is more than 30 years' experience of using PPPs to finance transport infrastructure, such as toll roads. However, PPPs to finance social infrastructure, such as hospitals, government buildings, and schools have only just begun. How India Is Laying The Groundwork For More Private Infrastructure Investment: It's no secret that India has shared in the wealth brought about by a strong and growing world economy during most of the past decade. But, India faces barriers to further sustained economic growth and stronger credit quality because of an inadequate and inefficient infrastructure. | 
