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Thrive Homes retains A+ stable outlook credit rating from S&P Global

26 March 2024

  • Thrive Homes has retained a credit rating of A+ (stable outlook) from S&P Global
  • S&P Global consider that ‘Thrive’s credit metrics remain strong compared with peers, because of management’s prudent practices.’

Thrive Homes has retained an A+ (stable outlook) credit rating for a second year, representing continued confidence in the housing association’s ‘prudent practices’ from management.

The credit rating was announced with the publication of S&P Global’s 2024 credit rating report on Monday 25th March 2024. The report identified that financial metrics will weaken compared with previous expectations due to increased investment in existing stock. However, Thrive’s careful management practises will allow the Group to balance the risks related to higher investments, whilst continuing the development of new homes.

Thrive’s management team was recognised for ‘prudent and conservative policies and risk management standards’, and the extensive expertise of the team which has built in flexibility to adjust financial plans if needed.

Responding to the announcement, Stephen King, Executive Director for Finance said: “This is welcome news, which confirms the resilience of our business planning as we continue to focus on improving our existing homes whilst pursuing organic growth and acquisitions within our operating area.

The retention of our A+ rating, within the context of the current economic climate is testament to the agility and expertise of our senior leadership and finance teams.”