HAs Able To Manage Risk from Universal Credit Reform

The direct payment of housing benefit to tenants under the recent universal credit reform is a manageable risk for publicly rated English housing associations, says Moody's Investors Service. As such, the rating agency does not envisage universal credit to bear any rating implications in the near term.  Moody's opinion is based on five key considerations, namely: the limited scope of the reform, the central government's proposed safeguard mechanisms, the reform's gradual implementation, the remedial measures of individual issuers and the view that the bulk of tenants are expected to continue to pay on time.  Read more on the Moody’s website.