|
Civitas Social Housing PLC - UK real estate investment trust - Says Fitch Ratings Ltd affirms grade "A" senior secured rating, and long-term issue default rating as "A-" with a stable outlook. These same ratings were achieved in their first rating by Fitch in March 2021.
Fitch noted the company's net debt to earnings before interest, tax, depreciation and amortisation ratio of under 8.0 times, and interest cover of 5 times. It noted Civitas assisted local authorities to meet social housing obligations for vulnerable adults, at a lower cost than the state and alternatives such as hospital settings. It also noted the trust's long term contracts which reflect the ongoing need for specialist assets and care provision for longer-living tenants.
Current stock price: 90.80 pence, down 2.8% on Monday
12-month change: down 16%
By Elizabeth Winter; elizabethwinter@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
|
