England: Five large associations downgraded over increased sales risk



Five large housing associations in England have had their credit ratings downgraded by ratings agency Standard & Poor’s (S&P).

L&Q, Hyde, Notting Hill Genesis and Guinness all saw their ratings decreased from A+ to A as S&P highlighted increased sales risk at the associations.

Metropolitan saw its rating fall from A+ to A- as S&P said it also decided “to budget additional spending to improve the condition and safety of its stock”.

Metropolitan, Hyde and Guinness were all given stable outlooks, meaning S&P thinks their ratings are unlikely to change in the near future. L&Q and Notting Hill Genesis, on the other hand, were given negative outlooks.



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