Credit rating puts Hanover in top tier of housing associations
Published by Rob Ghosh for Hanover Housing Group in Housing and also in Universal Credit
Moodys Credit Rating agency has given Hanover a credit rating of Aa2: outlook negative
Hanover’s Finance Director, Barbara Matthews said:
“We are satisfied, given the conditions of the economy and the way in which the credit rating of housing associations is linked to that of the government, that our Moodys credit rating of Aa2 puts Hanover in the top tier of the social housing sector.
It reflects Hanover’s strong cash flows from low-risk retirement housing and a low level of debt.
While we currently have no immediate plans to enter the bond market, we commissioned Moodys to undertake this exercise so that we are in a good position to consider new and innovative methods of funding our development strategy of 1,250 high quality new homes for people over 55 over the next five years.”