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London & Quadrant Housing Trust Dec 11

  • ID: 2032775
  • December 2011
  • Standard & Poors

FEATURED COMPANIES

  • AB Stangastaden
  • Home Group Ltd.
  • Sanctuary Housing Assn.
  • Uppsalahem AB
  • MORE

Abstract
Strong systemic support, provided by the U.K. central government. Property portfolio is concentrated in the Greater London area, where demand for social housing is high. Prudent strategic leadership in dealing with policy changes. Policy reforms might result in some changes to L&Q's business model and more exposure to residential property markets. Business model is exposed to development-for-sale in the U.K. housing market. The AA- rating on L&Q is based on its stand-alone credit profile (SACP), which we assess at 'a+'. It is also rooted in our opinion that there is a "moderately high" likelihood that the government of the United Kingdom (AAA/Stable/A-1+) working through the social housing regulator, would provide extraordinary support to L&Q in the event of financial distress....

Companies mentioned in this report are:
- London & Quadrant Housing Trust
- Sanctuary Housing Assn.
- Quadrant Housing Finance Ltd.
- Uppsalahem AB
- Home Group Ltd.
- Places for People Group Ltd.
- AB Stangastaden
- Sovereign Housing Association Ltd.

Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

Note: Product cover images may vary from those shown

- London & Quadrant Housing Trust
- Sanctuary Housing Assn.
- Quadrant Housing Finance Ltd.
- Uppsalahem AB
- Home Group Ltd.
- Places for People Group Ltd.
- AB Stangastaden
- Sovereign Housing Association Ltd.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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