RHP Finance PLC Credit Rating Announcement (9499P)
June 23 2022 - 3:28AM
UK Regulatory
TIDM62ZW
RNS Number : 9499P
RHP Finance PLC
23 June 2022
RHP retains its 'A+' credit rating
South-West London housing provider RHP has maintained its 'A+'
credit rating in a review announced by the agency Standard &
Poor's (S&P).
Due to an increased investment in existing homes, together with
inflationary pressures, the outlook has been revised from 'stable'
to 'negative'.
A report published by S&P states:
"In our view, RHP's management has strong expertise and
demonstrates good adaptation capabilities, as shown by its recent
revisions to the business plan that addressed multiple challenges,
such as inflation and cost increases."
S&P also affirmed an 'A+' issue rating on the GBP275 million
senior secured debt issued by RHP's funding vehicle, RHP Finance
PLC.
Corinna Bishopp, RHP's Executive Director of Finance said:
"We're proud to have retained an A+ rating, particularly in these
financially challenging times. As well as a commitment to provide
more much needed affordable homes in the local area, an important
part of our five-year strategy is to invest more in existing homes,
with a particular focus on fire safety works and bringing all homes
up to Energy Performance Certificate C levels by 2030."
RHP plans to provide 1,500 homes over the next ten years for
social rent and shared ownership.
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