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Fitch rates Southern Housing, notes A
Fitch Ratings said it assigned A ratings to Southern Housing and its £1.375 billion, issued by Optivo Finance plc and Southern Housing Group Ltd. The agency affirmed the A rating on Southern Housing Group’s £300 million of bonds. The outlook is stable.
“Fitch views Southern as a government-related entity (GRE) of the U.K. (AA-/negative). The rating is driven by Southern's a- stand-alone credit profile (SCP), reflecting 'stronger' revenue defensibility, operating risk and financial profile. Under Fitch's GRE criteria, Southern has a score of 12.5, and is therefore rated on a bottom-up +1 basis,” the agency said in a press release.
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