On 16 December 2022, Hastoe’s rating was reconfirmed as A3 with a negative outlook. Moody's stated:
“The credit profile of Hastoe Housing Association reflects its solid operating margins, simple structure and strong market position, counterbalanced by its weaker interest coverage ratios than peers and its high debt levels.”
Full credit opinions can be viewed below. Moody's noted the following in their most recent review:
Credit Strengths
- Strong operating margins
- Market niche as a rural housing specialist
- Adequate liquidity
- Supportive institutional framework in England
Credit Challenges
- Debt levels expected to remain higher than peers
- High interest costs, resulting in weak interest coverage
