Moody’s changes Optivo view to negative

Moody's Investors Service said it changed the outlook on Optivo Finance plc to negative from stable.

“The change in outlook to negative from stable reflects Optivo's development ambitions, in a context of a softening property market and weaker economic outlook, which will result in increasing debt levels and higher capital spending and development risk, as well as weaker interest coverage, with financial metrics moving to levels more closely aligned with A3 peers,” said Moody’s in a press release.

The agency affirmed the company’s A2 issuer and senior secured debt ratings, citing its profitable core business, interest rate coverage ratios and strong market position.

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