Moody's Credit Rating Update

Summary by AI ^BETAClose X

PenArian Housing Finance PLC announced on November 4, 2025, that ClwydAlyn Housing Limited's Moody's Credit opinion has remained A3 Stable. This stable outlook reflects ClwydAlyn's low-risk social housing business model, strong market position in Wales, and low gearing of 38% in fiscal 2024. Despite ambitious development plans, debt metrics are expected to remain strong. While operating margins are low due to a high proportion of care and supported housing turnover, the rating incorporates a strong likelihood of timely UK government intervention to prevent a default, indicating robust financial stability.

Disclaimer*

PenArian Housing Finance PLC

04 November 2025

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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