Thrive Homes’ credit rating has been revised from A (positive outlook) to A+ (stable outlook) representing some good news for the housing association — which provides over 5,500 homes across Hertfordshire, Bedfordshire, Buckinghamshire and Oxfordshire — and the sector as a whole.
The credit rating upgrade was announced in the publication of S&P Global’s 2023 credit rating report on Friday 24th March, demonstrating Thrive Homes’ strong credit position and resilience enabling the continued progression of its strategy.
The report identifies that the decision has been driven by strong confidence in management and governance at Thrive Homes. There is recognition of Thrive’s control over its housing portfolio, high EPC levels across its current housing stock and also that sales activity is resilient in the face of challenging economic conditions.
Mark Farrar, Executive Director for Resources, said: “This is welcome news for Thrive Homes. S&P’s decision to revise our credit rating demonstrates our strong financial position and confidence in our plans to expand our current housing portfolio and provide the best service to our customers.
“The upgrade within the context of the current economic climate, has been achieved by a sound understanding of current risks and mitigations open to Thrive which input into financial decisions, management of our current housing portfolio and considered planning for the future.”
Header image: Developed by Thrive Homes, Graham Court and Taylor Point in Watford provides 90 homes for affordable rent, shared ownership and rent to buy.
