HS1 calls lenders meeting amidst COVID-19 revenue hit

15 December 2020 - 12:00 am UTC

UK high-speed rail concessionaire HS1 Limited is set to hold a virtual meeting with its lenders as it manages a decline in retail and non-government guaranteed customer revenues linked to COVID-19.

The company, owned by Equitix and InfraRed Capital Partners, has also seen a drop in its debt service cover ratio, which could bring it close to not being able to make distributions to shareholders and potentially lenders at holding company level, according to S&P Global Ratings (S&P) and a source familiar with the matter.

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