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Housing Today
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S&P downgrades L&Q’s credit rating citing ‘sizeable’ need for investment in stock
Housing association loses A- rating but sale of non-core assets should stabilise finances, says ratings agency
S&P Global Ratings has lowered L&Q’s long-term issuer credit rating from A- to BBB+, citing the housing association’s large maintenance needs.
The ratings agency said L&Q’s “sizeable investment needs in existing stock” would weaken its financial performance in the medium term and “constrain its financial flexibility”.
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