Question: a.From the case studies covered in lectures, identify one case each where the project SPV was set up as (i) a company, and (ii) a

a.From the case studies covered in lectures, identify one case each where the project SPV was set up as (i) a company, and (ii) a partnership. In both cases, suggest and briefly explain two reasons as to why the particular legal form was chosen by the sponsors.

b.In their paper analysing the Eurotunnel project, Park and Chang (2013) state that "the analytical effort necessary to accomplish proper due diligence with respect to a project's economic viability is vastly underestimated, especially in large infrastructure projects." Explain what they mean by this. Is it an accurate description of observed project financings? Why or why not?

c.What is the significance of obtaining an investment grade credit rating for the issue of project finance bonds? How might a bond issue be marketed if a project's bonds are awarded a sub-investment grade credit rating?

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