Standard & Poors is putting a full-court press on bond ratings for P3s as part of its comprehensive update of project finance criteria, details of which were revealed to bankers and investors this month.

S&P has rated senior debt and federal TIFIA loans for four major P3 projects in the past 18 months, and two others, East End Bridge and Puerto Rico’s PR 22/5 toll roads, that did not secure a TIFIA credit. That’s more than in all previous years combined, says managing director, Steven J. Dryer.