Axiom Education Pty Limited -- Moody's affirms Axiom's A2 rating; outlook stable

Sydney, April 17, 2015 -- Moody's Investors Service has today affirmed Axiom Education Pty Limited's ("Axiom") senior secured A2 rating. The outlook is maintained at stable. Axiom is a special purpose vehicle established in 2003 to enter into contractual arrangements with the state of New South Wales ("state" -- New South Wales Treasury Corporation rated Aaa) for the design, build, finance and maintenance of nine new schools for a concession term ending in December 2032, under a public private partnership (PPP) framework. AssetCo Management Pty Ltd, a wholly owned subsidiary of IFM (unrated), assumed asset management responsibilities for Axiom during early 2014. IFM owns the equity in Axiom.

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