We maintain 'Stable A-' credit rating
We’re pleased to confirm S&P Global Ratings has affirmed our credit rating at A- (stable) in our annual review, following their outlook revision to stable in October 2023.
A strong and constant credit rating provides lenders and investors with a level of assurance regarding our operational and financial performance, as well as the future direction of our business. We are two years into our current Corporate Strategy and remain committed to our track record of providing warm, safe, and affordable homes to our customers across Essex. By working with key strategic partners such as M&G and LGAH, our strategy results in more homes being built within our communities, but slows the pace of growth on our balance sheet, improving financial metrics for debt and interest cover.
Paul Edwards said: “This is fantastic news for CHP as a business and the customers we support. An A- (stable) rating supports our plans to push forward with our current strategy and acknowledges the progress we’ve made over the last 12 months despite a tough economic environment. As many other housing associations pull back from investing in new homes in Essex, our strategy is to work together with trusted partners to solve the housing crisis. This means we remain well-placed to continue providing great homes and services for our customers and communities across Essex.”