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Moody’s lowers Hammerson
Moody’s Investors Service said it downgraded to Baa2 from Baa1 the issuer rating and the senior unsecured ratings of Hammerson plc. The outlook remains ratings under review.
The agency lowered the ratings because leverage will be higher than it expected following the announcement the £400 million sale of seven U.K. retail parks will not proceed
The agency said it is also concerned the effects of the pandemic will make it tougher for Hammerson to cut its debt.
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