Regulator gives Incommunities top ratings
Incommunities Group has retained its top rating in an assessment by the Regulator of Social Housing.
The government body is responsible for regulating registered social housing providers with more than 1,000 homes.
This week, the regulator confirmed that Incommunities had maintained its V1 viability score. It means Incommunities meets all its viability requirements and has a strong financial capacity to deliver its future ambitions.
Incommunities has also retained a top rating of G1 for the way the organisation is governed.
The rating followed a two day on-site assessment and in depth checks of the group’s policies, procedures and systems.
The news comes hot on the heel of the Group’s success in securing a major refinancing package with a £250 million bond issue as well as a very strong investment rating of A+ from Standard & Poor (S&P).
Geraldine Howley, Incommunities’ Group Chief Executive, said: “I am proud that we have again achieved this top rating. This is wonderful news and is particularly satisfying following the completion of our successful bond issue.
“This rating reflects the determination of staff and board members to work together to continue to drive up performance.
“As a group we are moving forward on the delivery of our ‘Improving lives to 2040’ strategic ambitions and our work in continuing to invest in our customers’ homes, people’s lives and their communities.”
Jan Ormondroyd, Incommunities’ Group Chair, said: “I am delighted that our regulators have recognised our strengths and the good progress we continue to make.
“This rating provides an excellent platform to build on as we deliver our ambitions plans for the future.”