Moody's alters Unite view to positive

Moody's Investors Service said it revised the outlook to positive from stable and affirmed the Baa2 issuer and backed senior unsecured ratings of the Unite Group plc. The agency also affirmed the Baa2 backed senior unsecured rating of Liberty Living Finance plc, a wholly owned subsidiary of Unite.

“Moody's changed the outlook to positive from stable to reflect Unite's strong credit metrics and resilient performance through the Covid pandemic. The rating agency expects Unite's performance to continue recovering with positive fundamentals for the sector supporting asset value, occupancy levels and rental growth over the next 18 months. Lingering risks related to the pandemic remain, and potential future outbreaks that lead to social restrictions could delay recovery,” the agency said in a press release.

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