Thought leadership for housing associations: A changing credit rating landscape
- May 4, 2021
Credit ratings agencies now rank among the most important financial stakeholders for many housing associations (HAs), influencing relationships with banks, investors, and the Regulator of Social Housing (RSH). Updates to S&P’s methodology, a subtle change in the approach from Moody’s, increased pressure on operating ratios, and the risk of BBB/Baa1 are all likely to be key themes over the next 12 months. Such issues will affect not only those with an existing rating in place, but also HAs considering either an inaugural or additional rating. These topics and more are covered in Chatham’s latest thought leadership piece.
Request your copy
This material has been created by Chatham Financial Europe, Ltd. and is intended for a non-U.S. audience. Chatham Financial Europe, Ltd. is authorised and regulated by the Financial Conduct Authority of the United Kingdom with reference number 197251.
Our featured insights
FX forward rates and hedging costs
FX hedging costs vary across currency pairs. “Cost” from a certain direction of capital flow is in fact a “gain” in the opposite direction.
The hairy chart: Historical accuracy of LIBOR forward curves
These hairy chart graphs plot past LIBOR forward curves against the actual path LIBOR followed, showing that the forward curve has been a somewhat accurate predictor over the next six months or so...
LIBOR transition update — Q4 2021 review
Chatham’s update on the LIBOR transition, summarizing recent news, upcoming deadlines, and available resources to help you stay current as the market transitions away from LIBOR.
Chatham's 2022 outlook: Inflation, COVID-19, and capital markets trends
Watch Chatham's CEO, Matt Henry, discuss key topics and trends of 2022, including inflation, COVID-19, and the capital markets.
Debt Valuation Market Update Q4 2021
In this webinar Jaran and Drew will highlight the key drivers of debt valuation for fourth quarter 2021. They will also cover lending markets and the mark-to-market impact.
Request your Q4 2021 Average Market Credit Spreads report
The information presented in this report represents average credit spread conclusions segregated by property type and grouped by LTV for the quarter ending December 31, 2021. Fixed mortgage spreads were moderately negative in Q4. Debt mark-to-market had a slightly positive impact on equity fund...
Forward hedging FAQ
Movements in short-term rates like LIBOR and SOFR, used as indices for floating-rate financings, present a commonly understood source of interest rate risk for commercial real estate (CRE) borrowers. Movements in longer term interest rates can also create risk for borrowers. This guide examines...