S&P has downgraded its rating for Platform Housing Group from A+ to A

It was also given a negative outlook, since "Platform's continued commitment to investment in existing homes and a large, partly debt-funded development program could result in even weaker credit metrics than we anticipated under our revised base case".  In an update published on 4th September, S&P noted that the Group's adjusted EBITD margins were expected to remain structurally around 20% as it increases its investments in existing homes.  In addition, Platform "continues to maintain an ambitious development program, despite cost pressures, resulting in a further deterioration of debt metrics compared with our previous base case, and we now view the group's management as having a higher risk tolerance and a less predictable financial strategy".  It concluded that, while Platform's focus on traditional social housing activities support its credit quality, its higher risk appetite, weaker financial performance, and continued debt-funded development are adversely affecting its credit metrics.