(Editor's Note: This commentary consolidates the content of "Sector And Industry Variables: Regulatory Framework And Systemic Support Assessments For Nonprofit Social Housing Providers," published Sept. 7, 2023, which was archived.)
This report does not constitute a rating action.
This report provides additional information on the regulatory framework and systemic support assessments S&P Global Ratings derives from the application of the criteria "Methodology For Rating Public And Nonprofit Social Housing Providers," June 1, 2021. This commentary is intended to be read in conjunction with those criteria.
Key Publication Information
- This article is related to "Methodology For Rating Public And Nonprofit Social Housing Providers," June 1, 2021.
- We typically update this publication annually to summarize our latest assessments of the regulatory frameworks and systemic support for social housing providers in each country.
- Since our last publication, we updated our regulatory framework and systemic support assessments for German public housing providers and social housing providers in the U.K.
Regulatory Framework And Systemic Support
When we rate public and nonprofit social housing providers, the regulatory framework and systemic support is a factor in our enterprise risk analysis (see paragraph 30 in the social housing criteria). Our four-part assessment reflects our views of the provider's 1) public policy mandate, 2) regulatory mechanisms, 3) systemic support/negative intervention, and 4) fiscal framework (see paragraph 30 and table 4 in the social housing criteria).
We consider all four components to be equally important, and our regulatory framework and systemic support assessment is typically their rounded average. For each factor, we choose between two assessments, depending on the extent to which a specific framework meets each one's described characteristics (see paragraph 34 in the social housing criteria).
Regulatory Framework And Systemic Support Assessments
We don't currently have any regulatory framework assessments that fall into Groups 4, 5, or 6.
Group 1: Extremely strong
- Regulatory Framework Assessment: New Zealand Crown-Owned Social Housing Providers Operate Under Uniquely Strong Policy Mandate, June 29, 2023
Group 2: Very strong
- Regulatory Framework Assessment: Northern Irish registered housing associations (U.K.), Oct. 23, 2023
- Regulatory Framework Assessment: Scottish registered social landlords (U.K.), Oct. 23, 2023
- Regulatory Framework Assessment: Welsh registered social landlords (U.K.), Oct. 23, 2023
- Regulatory Framework Assessment: Social Housing Providers In The Province of Ontario, June 29, 2023
- Regulatory Framework Assessment: Social Housing Providers In France, May 30, 2023
- Regulatory Framework Assessment: Swedish Public Housing Providers' Rent-Setting Scheme Balances Income And Costs, May 22, 2023
- Regulatory Framework Assessment: Social Housing Providers In Netherlands, July 7, 2022
- Regulatory Framework Assessment: U.S. public housing authorities (U.S.)
Group 3: Strong
- Regulatory Framework Assessment: Registered housing providers in England (U.K.), Oct. 23, 2023
- Regulatory Framework Assessment: German Public Housing Providers Face Increasing Political Demands But Benefit From Strong Institutions, Oct. 3, 2023
- Regulatory Framework Assessment: Swedish Public Real Estate Companies Are Supervised Through Their Integration With Owners, May 25, 2023
- Regulatory Framework Assessment: Israeli social housing providers (Israel)
- Regulatory Framework Assessment: U.S. social housing providers (U.S.)
Related Criteria
Methodology For Rating Public And Nonprofit Social Housing Providers, June 1, 2021
Analytical Contacts: | Felix Ejgel, London + 44 20 7176 6780; felix.ejgel@spglobal.com |
Nora G Wittstruck, New York + (212) 438-8589; nora.wittstruck@spglobal.com | |
Abril A Canizares, London + 44 20 7176 0161; abril.canizares@spglobal.com | |
Dennis Nilsson, Stockholm + 46 84 40 5354; dennis.nilsson@spglobal.com | |
Ki Beom K Park, San Francisco + 1 (212) 438 8493; kib.park@spglobal.com | |
Methodology Contact: | Valerie Montmaur, Paris + 33144207375; valerie.montmaur@spglobal.com |
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