Futures Housing Group has this month had its long-term issuer credit rating reaffirmed as ‘A+’ with a stable outlook.
The reaffirmation by S&P Global Ratings follows the recent issuing of a retained £50m bond at one of the lowest rates ever agreed by a UK housing association.
The rating also comes as the East Midlands-based housing association publishes its new three-year corporate plan, which sets out how it will build or acquire at least 300 new homes a year until 2023 – as part of its vision to deliver “great places, great services, and great tomorrows” for more than 10,000 customers.
Futures says the rating affirms signals its ability to fund its ambitious growth plans, with S&P singling out the organisation’s high stock quality, strong operational performance, and robust management practices for mention.
The rating notice also recognises the group’s “very strong” liquidity position.
Commenting on the reaffirmation of the rating, group chair Mike Stevenson said: “We are now embarking on the next phase in our growth and development, focused firmly on meeting the needs of our customers and the wider community across the East Midlands.
“Providing more affordable homes is absolutely fundamental to our success, and I believe this reaffirmed credit rating sends out a powerful message to our many partners and stakeholders that, not only do we have a robust business model, but also the means to make our plans a reality.”
Futures Housing Group is a not-for-profit housing provider that manages more than 10,000 homes in the East Midlands.
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