Moody’s revises Hammerson view to negative

Moody’s Investors Service said it revised its outlook for Hammerson plc to negative from under review and confirmed the Baa3 issuer and the Baa3 senior unsecured ratings. This rating action concludes the review for downgrade the agency started on April 8.

Hammerson recently completed a £552 million equity raise and the sale of the company’s stake in VIA Outlets for £274 million Moody’ said.

The outlook revision reflects the ongoing effect of the coronavirus outbreak on Hammerson’s operating performance and weak investment markets, making it challenging for the company to dispose of further assets, the agency said.

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