Credit rating

A3 rating (Stable Outlook)

Our A3 credit rating issued by Moody’s demonstrates our strong financial position, well-diversified housing stock and experienced management team. Moody's noted the following in their most recent review:

Credit Strengths

  • Strong operating margins
  • Market niche as a rural housing specialist
  • Strong regulatory framework and stable operating environment

Credit Challenges

  • Debt levels expected to remain structurally high
  • Development programme increases exposure to market sales
  • Weak social housing interest coverage

Useful Documents

Moodys' Credit Opinion Nov 2018 

Moodys' Credit Opinion Dec 2017

Shift Silver 2018 Investors in People Positive About Disabled People Passiv Haus Trust The Institute of Customer Service