S&P Global Ratings gave U.K.-based residential operator and manager Incommunities Group Ltd. an A+ long-term issuer credit rating, with a negative outlook.
The rating agency said the assigned rating was based on the slightly high probability that the U.K. government, through the Regulator of Social Housing, would support the group in case it would come across financial difficulties.
S&P Global said Incommunities plays an important role in the U.K. government's housing initiatives and has a strong connection with the housing authority as demonstrated by the government's track record in giving credit support to the sector in specific circumstances.
Meanwhile, the negative outlook on the company is a reflection to the rating agency's negative outlook on the U.K.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.