Moody’s ups Places for People bonds

Moody’s Investors Service said it upgraded the ratings of the following secured bonds issued by Places for People Homes Ltd.

Moody’s upgraded the secured bonds due 2038 and those due 2043 to A3 from Baa1.

The rating actions on the secured bonds reflect the recent upgrade of the long term issuer rating of Places for People Homes to A3 from Baa1

“The ratings of the secured bonds are highly linked to the long-term issuer rating of PfPH as both transactions are secured on-balance sheet debt financings benefiting from the full recourse to the issuer,” said Moody’s in a press release.

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