As of Sept. 30, 2024, S&P Global Ratings rated 60 social housing providers (SHPs) outside the U.S. Compared with the same period last year, the number of rated SHPs declined by three because we withdrew the ratings on one SHP in France and two SHPs in the U.K. at the issuers' requests. The U.K. SHPs merged into another U.K.-based SHP that we do not rate.
Over the past 12 months, we took 22 rating actions, 13 of which have been taken since Jan. 1, 2024. We expect to take significantly less rating actions in 2024 than in 2023 and 2022, when the number of annual rating actions exceeded 25 (see chart 1). As of Sept. 30, 2024, 17% of ratings had a negative outlook--compared with 24% on Dec. 31, 2023, and 33% on Dec. 31, 2022--and six ratings (10%) had a positive outlook, the highest number since 2014. The gradually reducing proportion of negative outlooks across the portfolio and the comparatively high number of positive outlooks supports our conviction that we have reached a turning point in the rating cycle.
Chart 1
Most negative rating actions were on SHPs in England because macroeconomic and regulatory pressures affect the financial performance of SHPs in England more than in other regions. This is due to constraints on rent increases, more limited grant funding, high cost inflation, and increasing investments in existing stock. This, coupled with continued efforts to deliver new homes--which require debt funding at rising interest rates--put pressure on English SHPs' debt metrics.
Outside the U.K., we lowered the ratings on two French SHPs, following a downgrade of France. This is because we consider that the rating on France constrains the creditworthiness of these SHPs' local authority owners. Swedish SHPs also suffer from cost inflation. We revised the outlook on one Swedish issuer to negative from stable in 2023.
We took positive rating actions--including one upgrade, four outlook revisions to positive from stable, and four outlook revisions to stable from negative (see table 1)--on SHPs that were in a relatively strong position when headwinds started to impair the sector, and that maintained or even improved their already strong credit metrics.
Table 1
Rating actions on non-U.S. social housing providers since Oct. 1, 2023 | ||||
---|---|---|---|---|
Country | Entity | Local currency rating/outlook as of Sept. 30, 2024 | Local currency rating/outlook as of Oct. 1, 2023 | Date of rating action |
France |
Grand Delta Habitat |
A/Positive | A/Stable | Jan. 29, 2024 |
Maisons & Cites S.A. d'HLM |
NR | A+/Stable | Jun. 28, 2024 | |
SACVL |
A+/Stable | AA-/Negative | Jun. 11, 2024 | |
Toulouse Metropole Habitat O.P.H. |
A/Stable | A+/Negative | Jun. 11, 2024 | |
Germany |
Berlinovo Immobilien Gesellschaft mbH |
A-/Positive | A-/Stable | Sep. 27, 2024 |
Wohnungsbau Ludwigsburg GmbH |
A-/Positive | A-/Stable | Apr. 30, 2024 | |
Sweden |
Forvaltnings AB Framtiden |
AA-/Negative | AA-/Stable | Oct. 26, 2023 |
U.K. |
Aster Group Ltd. |
A/Stable | A+/Negative | Dec. 18, 2023 |
Chelmer Housing Partnership Ltd. |
A-/Stable | A-/Negative | Oct. 26, 2023 | |
Cross Keys Homes Ltd. |
A+/Stable | A/Positive | May 21, 2024 | |
East Midlands Housing Group Ltd. |
A/Stable | A+/Negative | Jan. 24, 2024 | |
Futures Housing Group |
A+/Negative | A+/Stable | Oct. 11, 2023 | |
Hyde Housing Association Ltd |
A-/Stable | A/Negative | Jul. 10, 2024 | |
Lincolnshire Housing Partnership Ltd. |
A-/Stable | A-/Negative | Nov. 21, 2023 | |
Local Space Ltd. |
AA-/Stable | AA-/Negative | Jun. 20, 2024 | |
London & Quadrant Housing Trust |
BBB+/Stable | A-/Negative | Jun. 05, 2024 | |
Metropolitan Thames Valley |
A-/Stable | A-/Negative | Dec. 19, 2023 | |
Notting Hill Genesis |
A-/Negative | A-/Stable | Sep. 13, 2024 | |
Octavia Housing |
NR | BBB/WatchPos | Jul. 29, 2024 | |
Plymouth Community Homes Ltd. |
A+/Positive | A+/Stable | Jan. 23, 2024 | |
Richmond Housing Partnership |
A/Stable | A+/Negative | Jun. 21, 2024 | |
Silva Homes Ltd. |
NR | A+/WatchNeg | Oct. 23, 2023 | |
Sovereign Housing Association Ltd. |
A/Negative | A+/Negative | Nov. 22, 2023 | |
Wrekin Housing Group Ltd. |
A/Negative | A/Stable | Jul. 15, 2024 |
We expect English SHPs will continue to have relatively high levels of investments in existing stock, which, in our view, will crowd out debt-funded new homes development. While demand for new affordable homes remains strong in most regions, this is among the main levers used by SHPs that are trying to maintain solid credit metrics. We noted that SHPs that are flexible in their planning were able to scale back debt-funded developments quicker than others, thereby effectively mitigating some of the pressures.
While most long-term local currency issuer credit ratings remain concentrated in the 'A' category, there has been a steady transition from the upper end ('A+') to the lower end ('A-') (see chart 2). Even though outlooks have normalized since January 2022, a marginal negative bias persists. As of Sept. 30, 2024, 10 SHPs had negative outlooks, compared with six SHPs with positive outlooks (see chart 3).
Chart 2
Chart 3
Table 2
Ratings history of non-U.S. social housing providers as of Sept. 30, 2024 | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
Country | Entity | Date | Rating | Outlook | ||||||
Canada |
Toronto Community Housing Corp. |
Oct. 23, 2006 | AA- | Stable | ||||||
France |
Grand Delta Habitat |
Jan. 29, 2024 | A | Positive | ||||||
Jan. 23, 2023 | A | Stable | ||||||||
Jun. 15, 2022 | A+ | WatchNeg | ||||||||
Jan. 24, 2020 | A+ | Stable | ||||||||
SACVL |
Jun. 11, 2024 | A+ | Stable | |||||||
Jan. 18, 2023 | AA- | Negative | ||||||||
Jul. 07, 2021 | A+ | Stable | ||||||||
Jan. 20, 2014 | A | Stable | ||||||||
Toulouse Metropole Habitat O.P.H. |
Jun. 11, 2024 | A | Stable | |||||||
Aug. 05, 2022 | A+ | Negative | ||||||||
Sep. 28, 2021 | A+ | Stable | ||||||||
Germany |
Berlinovo Immobilien Gesellschaft mbH |
Sep. 27, 2024 | A- | Positive | ||||||
Sep. 23, 2022 | A- | Stable | ||||||||
degewo AG |
Sep. 27, 2022 | A+ | Positive | |||||||
Oct. 20, 2021 | A+ | Stable | ||||||||
GBG Unternehmensgruppe GmbH |
Nov. 29, 2022 | A+ | Negative | |||||||
Nov. 23, 2020 | A+ | Stable | ||||||||
GEWOBA Aktiengesellschaft Wohnen und Bauen |
Jul. 27, 2020 | A | Stable | |||||||
Gewobag Wohnungsbau-Aktiengesellschaft Berlin |
Dec. 18, 2020 | A | Stable | |||||||
Dec. 17, 2019 | A | Negative | ||||||||
Sep. 30, 2019 | A+ | WatchNeg | ||||||||
Jun. 18, 2019 | A+ | Negative | ||||||||
Jul. 06, 2015 | A+ | Stable | ||||||||
HOWOGE Wohnungsbaugesellschaft mbH |
Oct. 11, 2021 | A | Stable | |||||||
Muenchner Wohnen GmbH (formerly Gewofag Holding GmbH) |
Nov. 23, 2021 | AA- | Stable | |||||||
Nassauische Heimstätte |
Mar. 24, 2023 | A+ | Stable | |||||||
Wohnungsbau Ludwigsburg |
April 30, 2024 | A- | Positive | |||||||
May 31, 2023 | A- | Stable | ||||||||
Netherlands |
Stichting Stadgenoot |
Nov. 24, 2017 | AA | Stable | ||||||
Nov. 25, 2016 | AA- | Stable | ||||||||
Oct. 12, 2011 | AA | Stable | ||||||||
New Zealand |
Kainga Ora-Homes and Communities |
Feb. 21, 2021 | AAA | Stable | ||||||
Feb. 27, 2020 | AA+ | Positive | ||||||||
Sweden |
AB Stangastaden |
Apr. 07, 2011 | AA- | Stable | ||||||
Jun. 10, 2010 | A+ | Positive | ||||||||
Jun. 08, 2004 | A+ | Stable | ||||||||
Fastighets AB Forvaltaren |
Oct. 25, 2018 | AA- | Stable | |||||||
Oct. 27, 2017 | AA- | Negative | ||||||||
Sep. 01, 2011 | AA- | Stable | ||||||||
Nov. 25, 2009 | A+ | Stable | ||||||||
Jun. 30, 2009 | A | WatchPos | ||||||||
Sep. 07, 2004 | A | Stable | ||||||||
Forvaltnings AB Framtiden |
Oct. 26, 2023 | AA- | Negative | |||||||
Nov. 01, 2011 | AA- | Stable | ||||||||
Sep. 09, 2009 | A+ | Stable | ||||||||
Stockholms Kooperativa Bostadsforening |
May 15, 2012 | AA- | Stable | |||||||
U.K. |
Accent Group Ltd. |
Jul. 21, 2021 | A | Stable | ||||||
Jul. 21, 2020 | A+ | Negative | ||||||||
Dec. 18, 2019 | A+ | Stable | ||||||||
Jul. 04, 2019 | A+ | Negative | ||||||||
Anchor Hanover Group |
Mar. 23, 2021 | A+ | Stable | |||||||
Apex Housing Association Ltd. |
Nov. 23, 2018 | A- | Stable | |||||||
Nov. 07, 2016 | A | Negative | ||||||||
Nov. 09, 2015 | A+ | Negative | ||||||||
Nov. 13, 2014 | A+ | Stable | ||||||||
Aster Group Ltd. |
Dec. 18, 2023 | A | Stable | |||||||
Dec. 8, 2021 | A+ | Negative | ||||||||
Dec. 18, 2019 | A+ | Stable | ||||||||
Dec. 17, 2018 | A+ | Negative | ||||||||
Jul. 04, 2016 | A+ | Stable | ||||||||
Dec. 14, 2015 | AA- | Stable | ||||||||
Nov. 25, 2014 | AA- | Positive | ||||||||
Nov. 25, 2013 | AA- | Stable | ||||||||
bpha Ltd. |
Oct. 22, 2021 | A+ | Stable | |||||||
Oct. 04, 2018 | A+ | Negative | ||||||||
Jul. 04, 2016 | A+ | Stable | ||||||||
Sep. 10, 2013 | AA- | Stable | ||||||||
Bromford Housing Group Ltd. |
July 10, 2023 | A+ | Stable | |||||||
Oct. 7, 2022 | A+ | Negative | ||||||||
Jan. 18, 2022 | A+ | Stable | ||||||||
Jan. 22, 2021 | A+ | Negative | ||||||||
Dec. 18, 2019 | A+ | Stable | ||||||||
Apr. 18, 2018 | A+ | Negative | ||||||||
Chelmer Housing Partnership |
Oct. 26, 2023 | A- | Stable | |||||||
Oct. 29, 2020 | A- | Negative | ||||||||
Nov. 22, 2019 | A | Negative | ||||||||
Nov. 14, 2018 | A | Stable | ||||||||
Nov. 16, 2017 | A+ | Negative | ||||||||
Jul. 04, 2016 | A+ | Stable | ||||||||
Nov. 07, 2013 | AA- | Stable | ||||||||
Clarion Housing Group Ltd. |
Dec. 22, 2020 | A- | Stable | |||||||
Jul. 23, 2019 | A | Negative | ||||||||
Jul. 25, 2018 | A | Stable | ||||||||
ClwydAlyn Housing Ltd. |
May 24, 2017 | A | Stable | |||||||
Cross Keys Homes Ltd. |
May 21, 2024 | A+ | Stable | |||||||
May 23, 2023 | A | Positive | ||||||||
May 6, 2022 | A | Stable | ||||||||
May 21, 2021 | A+ | Negative | ||||||||
Jul. 04, 2016 | A+ | Stable | ||||||||
May 20, 2016 | AA- | Stable | ||||||||
Jul. 10, 2015 | AA- | Negative | ||||||||
Jul. 31, 2014 | AA- | Stable | ||||||||
East Midlands Housing Group Ltd. |
Jan. 24, 2024 | A | Stable | |||||||
Jan. 27, 2022 | A+ | Negative | ||||||||
Jul. 04, 2016 | A+ | Stable | ||||||||
Jan. 15, 2014 | AA- | Stable | ||||||||
Futures Housing Group |
Oct. 11, 2023 | A+ | Negative | |||||||
Oct. 22, 2019 | A+ | Stable | ||||||||
Jan. 25, 2019 | A+ | Negative | ||||||||
Gentoo Group |
Jul. 13, 2023 | A- | Stable | |||||||
Oct. 7, 2022 | A- | Negative | ||||||||
Jul. 19, 2022 | A- | Stable | ||||||||
Jul. 30, 2020 | A- | Negative | ||||||||
Dec. 18, 2019 | A- | Stable | ||||||||
Jul. 11, 2019 | A- | Negative | ||||||||
Feb. 23, 2018 | BBB+ | Positive | ||||||||
Guinness Partnership (The) |
Jan. 27, 2020 | A- | Stable | |||||||
Aug. 13, 2019 | A | Negative | ||||||||
Jul. 24, 2018 | A | Stable | ||||||||
Nov. 29, 2016 | A+ | Negative | ||||||||
Jul. 04, 2016 | A+ | Stable | ||||||||
Oct. 09, 2014 | AA- | Stable | ||||||||
Hexagon Housing Assn. Ltd. |
Mar. 24, 2023 | BBB+ | Stable | |||||||
Oct.7, 2022 | A- | Negative | ||||||||
Apr. 6, 2022 | A- | Stable | ||||||||
Home Group Ltd. |
Dec. 14, 2018 | A- | Stable | |||||||
Dec. 08, 2017 | A | Negative | ||||||||
Jul. 04, 2016 | A | Stable | ||||||||
Jun. 19, 2015 | A+ | Negative | ||||||||
Jun. 17, 2014 | A+ | Stable | ||||||||
Oct. 02, 2013 | A+ | Negative | ||||||||
Jun. 30, 2009 | A+ | Stable | ||||||||
Jun. 06, 2008 | A | Negative | ||||||||
May 05, 2005 | A | Stable | ||||||||
May 21, 2004 | A+ | Negative | ||||||||
Jul. 24, 2003 | A+ | Stable | ||||||||
Housing 21 |
Aug. 15, 2023 | A- | Stable | |||||||
Jul. 27, 2023 | A- | WatchNeg | ||||||||
Jul. 23, 2021 | A- | Stable | ||||||||
Jul. 24, 2019 | A | Stable | ||||||||
Jul. 11, 2018 | A+ | Negative | ||||||||
Oct. 25, 2017 | A+ | Stable | ||||||||
Housing Solutions |
Jul. 04, 2016 | A+ | Stable | |||||||
May 13, 2016 | AA- | Stable | ||||||||
Hyde Housing Association Ltd. |
Jul. 10, 2024 | A- | Stable | |||||||
Jul. 17, 2023 | A | Negative | ||||||||
Oct. 7, 2022 | A+ | Negative | ||||||||
Jul. 22, 2021 | A+ | Stable | ||||||||
Jul. 24, 2018 | A | Stable | ||||||||
Oct. 31, 2016 | A+ | Negative | ||||||||
Aug. 05, 2016 | A+ | WatchNeg | ||||||||
Jul. 04, 2016 | AA- | Stable | ||||||||
Aug. 12, 2015 | AA | Stable | ||||||||
Incommunities Group Ltd. |
Mar. 28, 2023 | A | Negative | |||||||
Mar. 18, 2021 | A+ | Negative | ||||||||
Dec. 19, 2019 | A+ | Stable | ||||||||
Mar. 07, 2019 | A+ | Negative | ||||||||
Karbon Homes Ltd. |
May 18, 2023 | A | Positive | |||||||
May 27, 2020 | A | Stable | ||||||||
Oct. 31, 2018 | A+ | Negative | ||||||||
Lincolnshire Housing Partnership Ltd. |
Nov. 21, 2023 | A- | Stable | |||||||
Nov. 23, 2022 | A- | Negative | ||||||||
Nov. 22, 2021 | A | Negative | ||||||||
Mar. 04, 2021 | A+ | Negative | ||||||||
Dec. 18, 2019 | A+ | Stable | ||||||||
Mar. 01, 2018 | A+ | Negative | ||||||||
Jul. 04, 2016 | A+ | Stable | ||||||||
Jun. 13, 2014 | AA- | Stable | ||||||||
Link Group Ltd. |
Nov. 26, 2020 | A | Stable | |||||||
Dec. 13, 2018 | A+ | Negative | ||||||||
Jan. 23, 2018 | A+ | Stable | ||||||||
Local Space Ltd. |
Jun. 20, 2024 | AA- | Stable | |||||||
Jun. 24, 2022 | AA- | Negative | ||||||||
Jun. 26, 2020 | AA- | Stable | ||||||||
Feb. 22, 2019 | AA- | Negative | ||||||||
Jul. 04, 2016 | AA- | Stable | ||||||||
Feb. 23, 2016 | AA | Negative | ||||||||
London & Quadrant Housing Trust |
Jun. 5, 2024 | BBB+ | Stable | |||||||
Oct.7, 2022 | A- | Negative | ||||||||
Jul. 18, 2019 | A- | Stable | ||||||||
Jul. 25, 2018 | A | Negative | ||||||||
Oct. 31, 2016 | A+ | Negative | ||||||||
Aug. 05, 2016 | AA- | WatchNeg | ||||||||
Jul. 04, 2016 | AA- | Stable | ||||||||
Jun. 19, 2015 | AA | Negative | ||||||||
Jun. 17, 2014 | AA | Stable | ||||||||
Dec. 17, 2012 | AA | Negative | ||||||||
Nov. 27, 2012 | AA | Stable | ||||||||
Nov. 29, 2011 | AA- | Stable | ||||||||
Aug. 13, 2009 | AA- | Positive | ||||||||
Jun. 30, 2009 | A+ | WatchPos | ||||||||
Dec. 19, 2008 | A+ | Stable | ||||||||
Metropolitan Thames Valley |
Dec. 19, 2023 | A- | Stable | |||||||
Oct.7, 2022 | A- | Negative | ||||||||
Jul. 24, 2018 | A- | Stable | ||||||||
Oct. 31, 2016 | A+ | Negative | ||||||||
Jul. 04, 2016 | A+ | Stable | ||||||||
Sep. 15, 2015 | AA- | Stable | ||||||||
Notting Hill Genesis |
Sep. 13, 2024 | A- | Negative | |||||||
Jun. 05, 2019 | A- | Stable | ||||||||
Jul. 27, 2018 | A | Negative | ||||||||
Oct. 04, 2016 | A+ | Negative | ||||||||
Jul. 04, 2016 | AA- | Stable | ||||||||
Jun. 19, 2015 | AA | Negative | ||||||||
Oct. 20, 2014 | AA | Stable | ||||||||
Paradigm Housing Group Ltd. |
May 10, 2021 | A+ | Stable | |||||||
Paragon Asra Housing Ltd. |
Jun. 27, 2023 | BBB+ | Stable | |||||||
Oct.7, 2022 | A- | Negative | ||||||||
Jun. 23, 2022 | A- | Stable | ||||||||
Jun. 23, 2021 | A | Negative | ||||||||
Jun. 19, 2020 | A | Stable | ||||||||
Peabody Trust |
Oct.7, 2022 | A- | Negative | |||||||
Aug. 20, 2021 | A- | Stable | ||||||||
Jul. 08, 2019 | A | Stable | ||||||||
Places for People Group Ltd. |
Jun. 20, 2018 | A- | Stable | |||||||
Oct. 24, 2016 | A | Negative | ||||||||
Jul. 04, 2016 | A+ | Negative | ||||||||
Oct. 01, 2009 | A+ | Stable | ||||||||
Jun. 30, 2009 | A | WatchPos | ||||||||
Dec. 14, 2007 | A | Stable | ||||||||
Oct. 05, 2005 | A | Positive | ||||||||
Oct. 06, 2004 | A | Stable | ||||||||
Platform Housing Group Ltd. |
Mar. 26, 2020 | A+ | Stable | |||||||
Plymouth Community Homes Ltd. |
Jan. 23, 2024 | A+ | Positive | |||||||
Dec. 18, 2019 | A+ | Stable | ||||||||
Feb. 15, 2019 | A+ | Negative | ||||||||
Richmond Housing Partnership |
Jun. 21, 2024 | A | Stable | |||||||
Jun. 21, 2022 | A+ | Negative | ||||||||
May 15, 2019 | A+ | Stable | ||||||||
May 21, 2018 | AA- | Negative | ||||||||
Jul. 04, 2016 | AA- | Stable | ||||||||
Jun. 19, 2015 | AA | Negative | ||||||||
Jan. 09, 2015 | AA | Stable | ||||||||
Sanctuary Housing Assn. |
Feb. 8, 2023 | A | Negative | |||||||
Nov. 18, 2021 | A | Stable | ||||||||
Apr. 30, 2021 | A+ | Negative | ||||||||
Feb. 25, 2021 | A+ | WatchNeg | ||||||||
Nov. 19, 2020 | A+ | Negative | ||||||||
Dec. 19, 2019 | A+ | Stable | ||||||||
Nov. 15, 2018 | A+ | Negative | ||||||||
Jul. 04, 2016 | A+ | Stable | ||||||||
Jun. 14, 2010 | AA- | Stable | ||||||||
Jun. 30, 2009 | AA- | Positive | ||||||||
May 28, 2008 | A+ | Stable | ||||||||
Oct. 18, 2004 | A | Stable | ||||||||
Sovereign Housing Association Ltd. |
Nov. 22, 2023 | A | Negative | |||||||
Oct. 24, 2022 | A+ | Negative | ||||||||
Oct. 28, 2020 | A+ | Stable | ||||||||
Oct. 24, 2018 | A+ | Negative | ||||||||
Oct. 04, 2016 | A+ | Stable | ||||||||
Jul. 04, 2016 | AA- | Stable | ||||||||
Jun. 19, 2015 | AA | Negative | ||||||||
Jun. 17, 2014 | AA | Stable | ||||||||
Dec. 17, 2012 | AA | Negative | ||||||||
Oct. 24, 2012 | AA | Stable | ||||||||
Aug. 06, 2009 | AA- | Stable | ||||||||
Stonewater Ltd. |
Feb. 6, 2023 | A | Negative | |||||||
May 19, 2022 | A+ | Negative | ||||||||
Dec. 18, 2019 | A+ | Stable | ||||||||
Jul. 24, 2019 | A+ | Negative | ||||||||
Aug. 08, 2018 | A+ | Stable | ||||||||
Thrive Homes Ltd. |
Mar. 24, 2023 | A+ | Stable | |||||||
Mar. 28, 2022 | A | Positive | ||||||||
Mar. 18, 2020 | A | Stable | ||||||||
Mar. 29, 2019 | A | Negative | ||||||||
Mar. 02, 2018 | A | Stable | ||||||||
Jul. 04, 2016 | A+ | Stable | ||||||||
Mar. 06, 2014 | AA- | Stable | ||||||||
VIVID Housing Ltd. |
Oct. 7, 2022 | A | Stable | |||||||
Wheatley Housing Group Ltd. |
May 22, 2019 | A+ | Stable | |||||||
May 18, 2018 | A+ | Negative | ||||||||
May 26, 2017 | A+ | Stable | ||||||||
Oct. 03, 2016 | A+ | Negative | ||||||||
Jul. 05, 2016 | A+ | WatchNeg | ||||||||
Jun. 17, 2016 | AA | Stable | ||||||||
Jun. 04, 2015 | AA- | Positive | ||||||||
Nov. 07, 2014 | AA- | Stable | ||||||||
Wrekin Housing Group Ltd. |
Jul. 15, 2024 | A | Negative | |||||||
Oct. 07, 2019 | A | Stable | ||||||||
Source: S&P Global Ratings. |
Related Criteria
- Environmental, Social, And Governance Principles In Credit Ratings, Oct. 10, 2021
- Methodology For Rating Public And Nonprofit SHPs, June 1, 2021
- Group Rating Methodology, July 1, 2019
- Rating Government-Related Entities: Methodology And Assumptions, March 25, 2015
- General Criteria: Principles Of Credit Ratings, Feb. 16, 2011
Related Research
- Regulatory Framework Assessment: Social Housing Providers In The Netherlands, July 23, 2024
- Full Analysis: United Kingdom, April 22, 2024
- Non-U.S. Social Housing Providers Ratings Score Snapshot: March 2024, March 11, 2024
- Non-U.S. Social Housing Providers Ratings Risk Indicators: March 2024, March 11, 2024
- Non-U.S. Social Housing Providers Ratings History: March 2024, March 11, 2024
- U.K. Social Housing Borrowing 2024: Borrowing capacity remains constrained, March 6, 2024
- European Housing Markets Forecast Brightens Amid Ongoing Corrections, Jan. 25, 2024
- Non-US Social Housing Outlook 2024 At a turning point?, Nov. 29, 2023
- Regulatory Framework Assessment: Social Housing Providers In The U.K. Benefit From Strong Regulatory Frameworks, Oct. 23, 2023
- U.K. Social Housing Providers' Credit Headroom Could Tighten If The Operating Environment Deteriorates, Oct. 4, 2023
- Regulatory Framework Assessment: German Public Housing Providers Face Increasing Political Demands But Benefit From Strong Institutions, Oct. 3, 2023
- Regulatory Framework And Systemic Support Assessments For Nonprofit Social Housing Providers, Sept. 8, 2023
- Freeze On Livret A Rate Should Boost French Social Housing Providers’ Credit Metrics, July 17, 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
This report does not constitute a rating action.
Primary Credit Analyst: | Karin Erlander, London + 44 20 7176 3584; karin.erlander@spglobal.com |
Secondary Contacts: | Felix Ejgel, London + 44 20 7176 6780; felix.ejgel@spglobal.com |
Noa Fux, London 44 2071 760730; noa.fux@spglobal.com | |
Additional Contacts: | Mahek Bhojani, London +44 2071760846; mahek.bhojani@spglobal.com |
Abril A Canizares, London + 44 20 7176 0161; abril.canizares@spglobal.com | |
Tim Chow, CFA, London +44 2071760684; tim.chow@spglobal.com | |
Sabine Daehn, Frankfurt + 49 693 399 9106; sabine.daehn@spglobal.com | |
Adam J Gillespie, Toronto + 1 (416) 507 2565; adam.gillespie@spglobal.com | |
Rebecca Hrvatin, Melbourne + 61 3 9631 2123; rebecca.hrvatin@spglobal.com | |
Matthew R Hyde, London +44 20 71760456; m.hyde@spglobal.com | |
Stefan Keitel, Frankfurt + 49 693 399 9254; stefan.keitel@spglobal.com | |
Natalia Legeeva, London 44 20 7176 0618; natalia.legeeva@spglobal.com | |
Dennis Nilsson, Stockholm + 46 84 40 5354; dennis.nilsson@spglobal.com | |
Etienne Polle, Paris (+33) 01 40 75 25 11; etienne.polle@spglobal.com | |
Colleen Sheridan, London +44-20-7176-0561; colleen.sheridan@spglobal.com | |
Hugo Soubrier, Paris +33 1 40 75 25 79; hugo.soubrier@spglobal.com | |
Michael Stroschein, Frankfurt + 49 693 399 9251; michael.stroschein@spglobal.com | |
Beatrice de Taisne, CFA, London + 44 20 7176 3938; beatrice.de.taisne@spglobal.com | |
Freja L Dobreff, Madrid +46 84405938; freja.dobreff@spglobal.com | |
Ekaterina Ermolenko, Stockholm 46 708 770 286; ekaterina.ermolenko@spglobal.com | |
Didre Schneider, Frankfurt +49 69 33 999 244; didre.schneider@spglobal.com |
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