Moody’s has changed Jigsaw Homes’ credit outlook from negative to stable and has affirmed the 35,000-home housing association’s long-term issuer A2 credit rating, which indicates low credit risk.

The change in outlook from negative to stable reflects Moody’s anticipation that Jigsaw’s operating performance will strengthen compared to the results recorded in 2023.

Due to slower debt growth than previously anticipated, the credit rating agency has also affirmed Jigsaw Funding plc’s A2 rating for senior secured debt.