12 Mar 2018

GreenSquare gets 'A' credit rating

GreenSquare Group Limited (GreenSquare) has been assigned an 'A' long-term issuer credit rating by Standard and Poors (S & P) Global Ratings.

S & P's assessment report says that "GreenSquare's high quality asset base in the dynamic South of England, its low industry risk, and very strong liquidity position all buoy its credit profile."

The report notes that the traditional social housing industry enjoys strong demand, is normally high on the political agenda, and continues to exhibit low risk on a global scale.

Finance Director Scott Murray welcomed the news of the 'A' credit rating: "This is a vote of confidence in our business and in its capacity to thrive in the months and years ahead. This positive credit rating supports the arrangements we've made to fund the development of 1,000 new homes in the next five years – and our plans to deliver 2,000 new homes by 2025.”

S & P gives an outlook of 'negative' explaining that this reflects its outlook on the long-term sovereign credit rating on the UK. The report states: "We could revise the outlook to stable in the next two years if we revise the outlook on the sovereign to stable and, at the same time, GreenSquare continues to perform in line with our base-case scenario."