Investors - Credit Rating
Standard & Poor's (S&P) reaffirms bpha's long-term credit rating of A+ (stable)
We are pleased to announce that S&P has re-affirmed bpha’s long term credit rating at A+ (stable), which recognises that against the very challenging external economic environment during the past year, bpha has maintained its core financial strength and very strong liquidity.
In the S&P report published yesterday (22 October 2024), the agency pointed to the extensive experience of management in the housing sector, the continued prudent management of the organisation, and ample flexibility within bpha’s robust financial plans around investment in both existing and new homes to meet any market challenges. It also commented on the relatively low social and affordable rents in our operating areas, which point to affordability of homes, thereby supporting demand.
The report also highlighted:
- Significant headroom in our financial indicators
- Our modest investment requirement in existing homes, underpinned by the group’s solid asset quality, which is viewed as more favourable than sector peers
- Strong demand, prudent cost management and limited exposure to market sales underpin solid operational metrics
- Our extensive management experience in the social housing sector will help the group swiftly adapt to changing market challenges and opportunities.
This strong rating will ensure that bpha can continue to access additional funding in the markets to support the building of much needed new affordable homes.
bpha also has a G1/V1 rating for Governance and Financial Viability from the Regulator, meaning all governance requirements are met and it has the financial capacity to deal with a wide range of adverse scenarios.
