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Moody’s confirms credit rating for Sanctuary Group
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| Wednesday 19th May 2010 |
Sanctuary has seen its Aa2 credit rating confirmed by Moody’s Investor Services following their recent review of the Group’s operating and financial performance. The independent credit agency cited Sanctuary’s outlook as stable, and rated in the upper range of all UK housing associations.
With more than 40 years experience, Sanctuary is a leading housing association in the UK with more than 76,000 units of accommodation in management. Over the last five years its turnover has more than doubled to circa £340m, and the organisation has assets of almost £2.1 billion.
Moody’s report comments specifically on the strength and experience of Sanctuary’s senior management team, as well as the Group’s sound financial performance and strong cash flow. The size of the Group and its network of operations across the country are also noted as key credit strengths for the Association.
Craig Moule, Sanctuary’s Group Director – Finance and Resources, commented : “By confirming Sanctuary’s credit rating, Moody’s are demonstrating their confidence in our ability to continue to manage and grow the organisation at this prolonged period of political and economic uncertainty.
“It is a positive message to the market that is a reflection of the experience, ability and financial strength at the Group. Moving forward we are in a good position to continue to adapt to market changes to maintain our national presence as one of the UK’s leading housing associations.”
Sanctuary also has an A+ rating from Standard and Poor’s. |
| Posted by Kim for Sanctuary Housing Group |
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