Futures Housing Group has retained an A+ credit rating and a stable outlook in its most recent review from Standard & Poor’s (S&P).
The housing association, which has over 10,000 properties spread across Derbyshire and Northamptonshire, has been recognised by S&P for its “experienced and stable management” in addition to many other factors, that highlight to regulators, partner organisations and customers that Futures is a financially robust organisation. Overall, this rating highlights strong financial management and governance of the organisation.
Raj Sharma, Finance Director for Futures, said:
“We’re delighted to have retained our A+ credit rating and stable outlook with S&P. We are also pleased that our standalone rating, being the rating without the backstop support from government, is also A+. It’s a testament to our ongoing corporate strategy that will allow us to continue to deliver great places, great services and great tomorrows for our customers across the East Midlands.”
In addition to retaining its A+ credit rating and stable outlook, Futures Housing Group has a G1/V1 rating from the Regulator of Social Housing.
Futures is aiming to invest £193m in new homes by 2024 and has recently been successful in a joint bid with Midland Heart and EMH Group, approved by Homes England through the Affordable Homes Programme. The bid, for £171.7million, will see the providers work together to deliver 3,551 new affordable homes over the next five years.
In addition to delivering new homes, the organisation’s strong finances will prove invaluable as it develops plans to meet the sustainability agenda and continue to further improve the 10,000+ homes Futures already owns and manages.
To download Futures’ corporate plan for 2020-23 click here.
We’ve also recently published our annual report for 2020-21, which gives an overview of our work and achievements over the last year. To download a copy please click here.