The Coventry and Rugby Hospital Company PLC and the Hard Services Provider, Vinci Construction UK Ltd. have agreed a settlement in relation to the Project. Vinci will be replaced by Mitie FM Limited on 1 May 2024. Following a procurement process, Mitie has been selected as Interim Services Provider for an initial two-year period.

The interim services agreement exposes the Issuer to certain commercial risks including: Payment on cost-plus basis; Performance will not be subject to the Project Agreement payment mechanism, although their margin and overhead will be at risk if they fail to meet certain key performance indicators; " interface risks" including potential liability to the Soft FM Provider (ISS Mediclean Limited) and the Medical Equipment Provider (GE Medical Systems Limited) for losses they suffer in relation to the performance of Mitie.