We do not consider there to be an opportunity currently to realise savings to refinance the senior debt in existing PPP projects, given the pricing of debt has increased since most of the projects reached financial close. There may be an opportunity to refinance some of the large projects that have recently reached financial close (since March 2009), once these projects have entered the operational period (e.g. Fife Hospital and M80). This will not occur before 2011 and should be considered at this time.