emh group has top credit rating affirmed
Leicestershire-based social housing and care provider emh group has had its A+ rating and stable outlook affirmed by ratings agency Standard & Poor’s (S&P).
In the report S&P recognises that the group plays an important role in the provision of social housing in the UK, which has increased its financial strength.
In 2018 the group was named as one of Homes England’s strategic partners, securing £30.5m in grant funding to deliver affordable homes over four years. The following year it secured a further £12.9m as part of an extension of the partnership. These injections of funds enabled the group to increase its development programme, which will see around 2500 affordable homes built in the East Midlands by 2023.
The report also highlighted that the group’s operational performance continues to improve, despite the impact of the pandemic.
Andrew Kilby, emh group Executive Director of Finance, said: “This rating reflects the strength of both our financial position and our business strategy, a solid foundation from which we can apply to the capital markets to boost our development plans.”