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Saffron Housing Trust celebrates improved Moody's rating

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Saffron Housing Trust celebrates improved Moody's rating

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Published by Rachael Trezise for Saffron Housing Trust Limited in Housing and also in Care and Support

Moody's affirms improved A2 rating on Saffron Housing Trust:

Moody’s Investors Service is considered to be one of the most influential credit ratings agencies worldwide so Saffron Housing is delighted with its new improved rating from Moody’s announced today. In its annual ratings review, Saffron’s underlying baseline credit assessment has been upgraded within Moody’s A2 band thus improving Saffron’s rating when compared with other Housing Associations.

Michael Harrowven, Chairman of Saffron Housing Trust said:

“It is once again very pleasing to see that an independent rating’s agency like Moody's has, in its annual review, both recognised and endorsed Saffron's ongoing viability. This is achievable through its risk controlled and well governed business model, in spite of the continuing sector wide challenges and pressures. Saffron continues to build on its already established reputation of being innovative in its approach and an organisation where customers and delivering value for money are at the heart of its purpose.”

Stephen Flowitt-Hill, Director of Housing and Finance, added “The welcome upgrade by Moody’s recognises the strong financial position of Saffron which will continue into the future – despite a very ambitious stock development programme which will see Saffron grow to over 6,000 units in a few years.  We see this as a ringing endorsement of Saffron’s projected viability”.

Saffron is delighted to have received this endorsement from Moody’s in its 10th Anniversary year.

Any queries or requests for further information please contact Rachael Trezise, PR Manager, on 01508 532001/07974 716759 or email rtrezise@saffronhousing.co.uk.

Press release issued 16.6.2014.

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