Credit ratings agency Fitch has announced that our A+ rating remains unchanged for another year, and has confirmed a stable outlook for our business.
The ratings review takes into account factors such as demand, operational efficiency, debt dynamics and management. It also incorporates public support factors, notably the strong predictability of housing associations’ cash flow through government funding and capital grants.
Our Executive Director of Finance, Phil Elvy, said: “Another year, another A+ credit rating – fantastic news! This year hasn’t been without its challenges, however it’s great to hear that Great Places remains financially strong, so we can continue to provide excellent services to our customers.
“We’ve grown our portfolio to nearly 20,000 properties and achieved a £109million turnover, as well as a surplus of £13million. This is due in part to our Building Greatness ethos which focuses on efficiency and adaptation – keeping us in a strong position, whatever the current climate.”
Click here to read the full report.