S&P rates Colne Housing AA-

Standard & Poor’s said it assigned an AA- long-term issuer credit rating to Colne Housing Society Ltd.

The outlook is stable.

The rating on the company, which is the asset-holding parent of the Colne Group, is based on a stand-alone credit profile assessed at A+.

There also is a moderately high likelihood that the U.K. government, working through the Homes and Communities Agency, would provide timely and sufficient extraordinary support in the event of financial distress, S&P said.

The ratings also are supported by the company’s very strong enterprise profile. This reflects the low industry risk, high demand for Colne’s social housing, conservative business strategy, low levels of voids and arrears and the relatively young age of its portfolio, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.