Housing associations downgraded amid fears over development exposure

By Joey Gardiner2023-02-02T13:04:00

Moodys says financial position of 13 housing associations weakened, with market sales risk highlighted

Ratings agency Moodys has downgraded 13 social landlords, including a raft of major developers, citing fears over their exposure to the weakening economy, market sales risk and large development programmes.

The credit ratings firm said it had reduced the baseline credit assessments for 12 associations, including Sovereign, Great Places, Guinness, L&Q, Paragon Asra, and Yorkshire Housing by one notch, and Liverpool-based Riverside Group, which has recently merged with One Housing, by two notches.

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