Credit ratings agency Standard & Poor’s has said that it has ‘constrained’ the rating of Birmingham City Council because of additional debt it will take on as a result of the housing revenue account reform. Nevertheless, the agency still gave Birmingham a AA+ rating, the second highest possible, stating that the council’s financial management had a positive effect on its rating. It added that the supportiveness of the UK’s institutional framework helped Birmingham achieve its rating, with liquidity supported by its ability to access the Treasury’s Public Works Loan Board for financing. Meanwhile, a second ratings agency, Moody’s, gave Birmingham the highest possible triple A rating. Read more on Inside Housing.
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