London & Quadrant Housing Trust Dec 11
- ID: 2032775
- December 2011
- Standard & Poors
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.
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Research Type: Full Analysis