A+ credit rating for Home Group

Published by Max Salsbury for 24dash.com in Housing and also in Finance

Home Group has retained its A+ credit rating.

American financial services company Standard & Poor's (S&P) has rated the Newcastle-based housing association A+/Stable/-- following an assessment of its finances and future strategy.

Home Group - which manages 53,000 properties across the UK - showed a growth of £313 million after its latest accounts audit.

S&P said "the strong demand for Home Group’s properties, low debt levels and a high level of unencumbered assets” supported the A+ rating.

In February, rival credit agency Moody's downgraded the ratings of 14 housing associations from stable to negative.

Mark Henderson, Home Group chief executive, said: “This is recognition of the hard work all at Home Group have put in to ensure that we are a financially robust, well-run provider of social housing with care.

"Standard & Poor’s recognised that we have a clear strategy for the future that would enable us to remain among the upper echelons in our sector.”