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Moody's rating - 26 October 2023

Moody’s outlook remains negative while Jigsaw’s A2 rating is reaffirmed.

The credit profile of Jigsaw Homes Group Limited (Jigsaw, A2 negative) reflects the group’s adequate gearing and sound financial management, with a modest appetite for market sales.

It also incorporates the group’s high and increasing debt metrics, as well as its maintained high development ambitions despite the challenging operating environment.

Jigsaw also benefits from the strong regulatory framework governing English housing associations (HAs),and our assessment of a strong likelihood that the government of the United Kingdom (UK, Aa3 stable) would intervene if Jigsaw faces acute liquidity stress.

You can read the full report using the link below:

Moody’s credit opinion 26 October 2023 – Jigsaw Homes Group Limited >>


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