Fri 09 December 2016
Essex-based housing association Colne has retained its A+ credit rating set by financial services company Standard & Poors and has reasserted its commitment to building more homes.
Colne was given a ‘negative’ outlook which reflects a more challenging domestic and international, economic and political environment.
Colne has recently further strengthened its liquidity position by securing £75 million of new funding to help provide new homes for local people in East Anglia.
Sara Thakkar, Colne’s chief executive, said: “We are pleased to have retained our A+ rating. It reflects the fact we are well-run and in a financially strong position.
“We will continue to use our financial strength to provide a range of affordable homes to help meet the increasing housing need in Essex and the surrounding areas.”
She added Colne’s operating margin remains in the top quartile when compared to the housing sector.