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1.4.2 Event types

The following table describes a standardised nomenclature of relevant events (investment milestones; credit, technical, acquisition, or regulatory events) that can be reported for these firms. These events are reported dynamically: they can be known today or are expected to happen in the future. These include the firm name, production capacity or the firm's business model, and the type of regulation. These classifications follow the TICCS® standard.

Data Code

Event Category

Data Field Name

Description

Format

ICFE01

Milestone Event

Incorporation date

Official incorporation date

YYYY-MM-DD

ICFE02

Milestone Event

Initial investment date

Date of financial close, acquisition or privatisation

YYYY-MM-DD

ICFE03

Milestone Event

Greenfield construction start

Breaking ground in greenfield projects

YYYY-MM-DD

ICFE04

Milestone Event

Greenfield construction completion

Completed greenfield construction

YYYY-MM-DD

ICFE05

Milestone Event

Partial operations start

Start of the first phase of operations

YYYY-MM-DD

ICFE06

Milestone Event

Full operations begin

Project is fully operational

YYYY-MM-DD

ICFE07

Milestone Event

Brownfield construction start

New construction phase in brownfield investment

YYYY-MM-DD

ICFE08

Milestone Event

Brownfield construction completion

Completion of new construction phase in brownfield investment

YYYY-MM-DD

ICFE09

Milestone Event

Investment end date

Divestment or end of the contract (concession)

YYYY-MM-DD

ICFE10

Regulatory Event

Regulatory review

Next regulatory review or determination

YYYY-MM-DD

ICFE11

Regulatory Event

Renegotiation

Renegotiation of the original contract

YYYY-MM-DD

ICFE12

Regulatory Event

Termination

Termination of the original contract

YYYY-MM-DD

ICFE13

Regulatory Event

Arbitration

Dispute resolution through arbitration

YYYY-MM-DD

ICFE14

Regulatory Event

Renewal

Renewal of the original contract

YYYY-MM-DD

ICFE20

Credit Event

Lockup

Shareholders are not allowed to distribute dividends

YYYY-MM-DD

ICFE21

Credit Event

Soft Default

The firm can still pay its debt but creditors can exercise step-in rights

YYYY-MM-DD

ICFE22

Credit Event

Hard Default

The firm cannot pay its debt and creditors can claim the control of the firm

YYYY-MM-DD

ICFE23

Credit Event

Administration

The firm is bankrupt

YYYY-MM-DD

ICFE24

Credit Event

Liquidation

The firm is liquidated/sold

YYYY-MM-DD

ICFE25

Credit Event

Emergence From Default

End of default period

YYYY-MM-DD

ICFE26

Credit Event

Emergence From Lockup

End of lockup period

YYYY-MM-DD

ICFE31

Technical Event

Construction Delays

Delays in construction completion

YYYY-MM-DD

ICFE32

Technical Event

System Failure

Technical failure causing material technical disruption

YYYY-MM-DD

ICFE33

Technical Event

Accident

Large accident (e.g., fire) causing material technical disruption

YYYY-MM-DD

ICFE27

Credit Event

Refinancing

New debt facility replaces previous one

YYYY-MM-DD

ICFE28

Credit Event

Prepayment

Early repayment of all senior debt

YYYY-MM-DD

ICFE34

Technical Event

Construction Faults Discovered

Faults that significantly impact on the cash flows to the project are discovered

YYYY-MM-DD

ICFE35

Technical Event

Construction Warranty Called

In order to mitigate faults discovered, the project calls the warranty protection provided by the EPC

YYYY-MM-DD

ICFE36

Technical Event

Delayed Acceptance of Facilities

The independent verifier refuses to agree that the facilities are completed

YYYY-MM-DD

ICFE37

Technical Event

Environmental Approvals Delayed

The project is delayed due to a failure to obtain environmental approvals or the approvals are withdrawn

YYYY-MM-DD

ICFE38

Technical Event

Facilities Suffer a Catastrophic Failure

The facilities were shut down due to a major breakdown in the facilities either as a result of fire, etc., or construction problems

YYYY-MM-DD

ICFE39

Technical Event

Force Majeure

Force majeure is called in the contract

YYYY-MM-DD

ICFE40

Technical Event

Insurance Claim for Construction Faults

To cover construction faults, insurance policies are called

YYYY-MM-DD

ICFE41

Technical Event

Liquidated Damages

Construction delays have resulted in liquidated damages being enforced

YYYY-MM-DD

ICFE45

Legal Event

Litigation Against Construction Company

As a result of the construction company failures, the SPV has commenced legal action

YYYY-MM-DD

ICFE46

Legal Event

Litigation Against Government

As a result of the government changes or non-compliance, the SPV has commenced legal action

YYYY-MM-DD

ICFE47

Legal Event

Litigation Against Off-Taker

As a result of the off-taker's non-compliance, the SPV has commenced legal action

YYYY-MM-DD

ICFE48

Legal Event

Litigation Against Suppliers

As a result of the supplier's non-compliance, the SPV has commenced legal action

YYYY-MM-DD

ICFE15

Regulatory Event

New Off-take Contract Signed

The SPV has signed a new off-take agreement

YYYY-MM-DD

ICFE16

Regulatory Event

Option Exercised to Terminate the Project Early

Government has decided to terminate the project early

YYYY-MM-DD

ICFE17

Regulatory Event

Penalties Incurred

The SPV has deducted penalties as a result of failure to meet agreed standards

YYYY-MM-DD

ICFE18

Regulatory Event

Off-take Contract Expires

The off-take contract has expired

YYYY-MM-DD

ICFE19

Regulatory Event

Regulatory Intervention

The economic regulator has intervened into the market

YYYY-MM-DD

ICFE29

Credit Event

Supplier Terminates Contract

A key supplier to the project either terminates the contract or enters administration, impacting the viability of the project

YYYY-MM-DD

ICFE30

Credit Event

Swap Counter Party Default

The swap counterparty defaults, impacting the debt service of the project

YYYY-MM-DD

ICFE42

Technical Event

Cost Over Runs

The cost to construct the project is significantly over the expected cost at financial close

YYYY-MM-DD

ICFE43

Technical Event

Asset Mothballed

The owners have decided to stop operating the asset but will keep the assets in case the market improves

YYYY-MM-DD

ICFE44

Technical Event

Impairment

The date a material impairment of the infrastructure company is recognised

YYYY-MM-DD

ICFE50

Acquisition

Debt Stake Sale

Part or all of the firm's debt is divested

YYYY-MM-DD

ICFE49

Acquisition

Equity Stake Sale

Part or all of the firm's equity is divested

YYYY-MM-DD


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