Platform Housing Group has been rated A+ (negative outlook) by credit rating agency Fitch Ratings.
The A+ rating reflects Platform Housing Group’s continued performance in the provision of social and affordable housing across the UK.
The rating confirms the Midlands-based provider’s strong ongoing cash flows from rented properties which supports its robust financial performance, alongside considerable grant funding from Homes England.
The rating adds to the A+ (stable) rating with Standard and Poor which was reaffirmed in January 2021, making Platform Housing Group one of the strongest rated organisations in the social housing sector.
Elizabeth Froude, chief executive at Platform Housing Group, said : “We are delighted to have obtained a second credit rating, which is a key part of our Treasury Strategy.
“The A+ rating underlines our financial strength and signals to investors that Platform remains one of the best credits in the sector.
“It will also help us access the funding that we need to invest in our homes and our communities as we continue to help alleviate the Midlands housing shortage and provide enhanced life prospects for more people.”
Platform Housing Group, which owns 46,000 homes in total, completed 1,448 homes in 2019/20 at an investment of £258m.
The group also built 981 social rented homes during the past two two years in England – more than any other provider.
Platform Housing Group’s operating area is from Herefordshire in the West to the Lincolnshire coast in the East, and from the Derbyshire Dales in the North to the Cotswolds in the South.
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