bpha Credit Rating reaffirmed at A+ (stable)

BPHA Finance PLC

23 October 2024

 

On 22 October 2024, Credit rating agency Standard & Poor's (S&P) reaffirmed bpha's long-term credit rating of A+ (stable)

In their Research Update, S&P have commented that bpha will continue to manage its business prudently with the ample flexibility built into financial plans.

The key drivers of their assessment are:

·      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

·      Our very strong liquidity reflecting group's prudent liquidity policy

·      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.

S&P also reaffirmed at A+ the rating on the £350m senior secured bond issued by bpha Finance plc.

 

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