Fitch: UK Care Homes under Pressure from Local Authorities Fee Cut

January 13, 2016 8:57 AM

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(The following statement was released by the rating agency) Link to Fitch Ratings' Report: European Leveraged-Finance Highlight here LONDON, January 13 (Fitch) Fitch Ratings says in its latest European Leveraged Finance Highlight that UK care homes exposed to local authorities' funding are under pressure though the outlook for each credit can vary.

Since 2011, the UK's leveraged care home sector has suffered from a real-term reduction in local authorities' fee rates. Operators' resilience varies according to their position on the acuity care spectrum. Care homes at the higher end of the dependency spectrum such as Voyage (B/Stable), with a lar...

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