Standard & Poor’s Credit Rating – July 2019
On 24 July 2019, S&P set the long-term issuer rating of Housing 21 to ‘A’ with a stable outlook.
Standard and Poor’s remarked:
“H21’s rating strengths remain in its enterprise profile, which is supported by strong demand, its strategy, and its improving asset quality and operational performance. In our view, H21’s focus on tenants aged 65 years old and above results in strong demand for its services”.
“The stable outlook reflects our view that demand will remain strong for H21’s service offerings. It also reflects our expectation that management will maintain its current strategy, continuing to focus on the development of housing for older people”.
Paul Weston, Chief Financial Officer for Housing 21 stated:
“Our Standard & Poor’s (S&P) rating has recently been set as A (stable) in line, we believe, with other organisations who are trying to make a real impact on providing more homes and higher investments in their existing stock. We have embarked on an ambitious development programme, whilst also investing significantly in our existing properties, which inevitably impacts our financial profile from a rating perspective.
“We are proud of our Extra Care Living Offer, working with local authorities to provide housing and care for older people of modest means. Providing care services in our Extra Care properties does result in lower care margins compared to property margins, but these services are integral to the overall outcomes to our residents in providing an integrated housing and care offer.
“We are positive about the future as demand for our services remains strong, both as a result of the ever-increasing number of older people and the social value and wellbeing outcomes these services provide, as recognised by S&P in their 'stable' rating."
The Regulator of Social Housing (RoSH) Judgements
RoSH rating – December 2016
The Regulator of Social Housing (RoSH) affirmed Housing & Care 21’s top regulatory grading.
Governance Rating – G1 – means the provider meets the regulator’s governance standards
Viability Rating – V1 – means the provider meets the regulators’ viability standards and has the financial capacity to deal with a wide range of adverse scenarios.
RoSH rating - May 2015
The Regulator of Social Housing (RoSH) awarded top regulatory grading to Housing & Care 21 in May 2015.
- Governance Rating – G1
- Viability Rating – V1
Housing 21 S&P Credit Rating July 2019 PDF 111.4KB
Housing 21 S&P Credit Rating July 2018 PDF 281.7KB
Housing 21 S&P Credit rating October 2017 PDF 273.2KB