HA credit is downgraded

Aster Group’s outlook has moved from “positive” to “stable” because ofplans to invest cash in building homes rather than paying down debt.

Inside Housing reported:

“Standard & Poor’s (S&P) last week re-affirmed Aster Group’s ‘AA-‘rating, meaning its capacity to meet its financial commitments is considered to be ‘very strong’. However, the rating agency has downgraded Aster’s outlook from positive to stable. This means S&P now believes Aster’s rating is not likely to change, whereas it previously believed it may be raised.”