Inside Housing – News – Yorkshire landlord has credit rating lowered to ‘A’ due to ‘ambitious investment strategy’
S&P Global has lowered Shipley-based landlord Incommunities’ credit rating from A to A- because of what the ratings agency described as an “ambitious investment strategy”.
Incommunities’ office. The association’s credit rating has been lowered to A- (picture: Google Street View)
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S&P said it anticipates that the 23,000-home landlord’s large investments in existing and new homes will structurally weaken its financial metrics compared to its previous expectations.
This negative outlook comes after the association revealed in January that it had spent almost a third less on development year-on-year, while reporting a…
