StockMarketWire.com - International Public Partnerships said it does not currently believe that the liquidation of Carillion was likely to have any significant valuation impact on the company.

The company, however, said it would continue to monitor and manage the situation as it evolved.

IPP said it had been aware for some time of the issues affecting Carillion and had developed contingency plans accordingly. These involved the asset manager working to transition the projects for which Carillion Services had facilities management responsibilities to a new facilities management contractor or contractors.

Facilities management services are provided by Carillion FM to around 3% of the company's portfolio.

"All the affected projects are operational," IPP said.

"The liquidation of Carillion is also in some cases an event entitling project lenders to "lock up" distributions from projects where they have guaranteed the performance of the facilities management services."

"While the occurrence of any such "lock up" would not be expected to have any material impact on IPP's cashflows for the foreseeable future it would require the taking of remedial action and the contingency planning noted above has taken this into account."




At 1:41pm: [LON:INPP] International Public Partnership Ltd share price was -0.6p at 157.4p



Story provided by StockMarketWire.com