Many private infrastructure projects mix regulation that subjects the private company to considerable risk, a government or regulator that is reluctant to see the company go bankrupt, and high leverage on the part of the company. If all goes well, equityholders make a profit, debtholders are repaid, customers pay no more than they expected, and the government is not called on to bail the company out. If all goes badly enough, however, the prospect...
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INFORMACIÓN
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2004/04/01
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Documento de trabajo sobre investigaciones relativas a políticas
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WPS3274
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1
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1
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2010/07/01
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Avoiding customer and taxpayer bailouts in private infrastructure projects : Policy toward leverage, risk allocation, and bankruptcy
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minimum equity requirements minimum equity