Our credit rating has been revised by world-renowned credit agency S&P, and we have been awarded a revised rating of ‘A’ with a stable outlook.
We are very satisfied with the change to a stable outlook, which reflects our ambitious business plan to build more homes across Essex. We want to play a major role in helping solve the housing crisis and aim to change the lives of our customers.
Paul Edwards, Director of Resources said: “I welcome the revised rating and it clearly reflects our ambitious development programme for the future. Throughout 2018 we have delivered 244 homes for our customers throughout Essex and a further 716 homes are under construction to help meet the housing need in the county.”
“Our previous rating of A+ had a ‘negative’ outlook so to some extent the notch down to A was signalled. In effect it reflects CHP’s more ambitious business plan and focus on growth in its core areas. The management of CHP are content that it reflects a reasonable outcome given existing plans for prudent and controlled growth. CHP remains financially strong and we continue to focus on maintaining this position while delivering for our stakeholders across all activities.”
This year, we regained our G1 governance rating from the Regulator of Social Housing, and retained our V1 rating for financial viability, both the highest rating. We secured a place for the third year running in the Inside Housing Top 50 Biggest Builders survey, demonstrating our continued commitment to supply much needed homes in rural and urban areas across Essex.