Platform HG Financing PLC Fitch Revises Platform Housing Group's Outlook (5568D)
30 Juin 2021 - 10:22AM
UK Regulatory
TIDM17YE
RNS Number : 5568D
Platform HG Financing PLC
30 June 2021
Platform HG Financing Plc
30 June 2021
Fitch Revises Platform Housing Group's Outlook to Stable
Platform Housing Group, the largest housing association in the
Midlands, has experienced a favourable ratings change. The new
rating, A+ (stable outlook) (formerly A+ (negative outlook),
reflects a similar amendment to the UK Sovereign rating. The
revision to the Sovereign rating reflects the stronger resilience
of the UK economy and public finances to the pandemic shock, which
has resulted in an upward revision of Fitch's GDP growth estimate
(see 'Fitch Revises the United Kingdom's Outlook to Stable; Affirms
at 'AA-', dated 18 June 2021 at www.fitchratings.com).
The rating adds to the A+ (stable) rating with Standard and
Poors (which was reaffirmed in January 2021) and further
establishes Platform Housing Group as one of the strongest rated
organisations in the social housing sector.
Rosemary Farrar, Chief Finance Officer at Platform Housing Group
said: "The change to the outlook reflects not only that the UK
economy is faring well as it continues to manage the effects of the
Covid-19 pandemic, but also Platform's strong credit standing. The
change in outlook creates consistency within our ratings and
demonstrates to investors that Platform remains one of the best
credits in the sector. The positive economic outlook is good news
for our customers, after a period of sustained hardship for many as
it will help us access the funding we need to invest in our homes
and our communities as we continue to manage and develop quality,
affordable and sustainable housing for those in the Midlands."
For further information please contact Ben Colyer, Corporate
Treasury Director at Platform Housing Group on 07918 16099 /
ben.colyer@platformhg.com.
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END
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