Moody’s revises Hammerson view to negative

Moody's Investors Service said it revised its outlook for Hammerson plc to negative from stable, citing the company’s weaker operating performance and a difficult retail environment in the U.K.

“The outlook also incorporates some continued further downward pressure on rents and asset values but assumes the company will continue to successfully execute on its strategy aimed at reducing debt and improving portfolio quality,” said Moody’s in a press release.

Moody’s affirmed Hammerson’s Baa1 long-term issuer and senior unsecured bond ratings.

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