PenArian Housing Finance PLC                                                           

ClwydAlyn Housing Limited

We are delighted to announce that our Moody's Credit opinion has remained as A3 Stable. 

Summary

The credit profile of ClwydAlyn Housing (ClwydAlyn, A3 stable) outlook reflects ClwydAlyn's low-risk business model focused on social housing lettings, its strong market position in Wales and low gearing at 38% in fiscal 2024, which reflects the more generous grant regime in Wales. Despite its ambitious development plans, we expect its debt metrics to remain strong relative to peers. The ratings also incorporate its low operating margins driven in part by a high proportion of turnover generated from care and supported housing. ClwydAlyn's ratings also incorporate our view that there is a strong likelihood that the UK government would act in a timely manner to prevent a default.

The full version of the rating can be found on the Moody's website. 

ClwydAlyn Housing Limited | Overview | Moody's

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