REG - Flagship Finance PLC - Moody's Credit Ratings Update

Brown & BrownAnnouncement

02/11/2023 01:15

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RNS Number : 0886S  Flagship Finance PLC  01 November 2023

Flagship Housing Group Limited, parent company of Flagship Finance PLC

 

Credit Rating Announcement

Flagship Housing Group & Flagship Finance PLC

1 November 2023

 

Moody's credit ratings update

Moody's Investors Service have affirmed the credit rating of Flagship Housing
Group Limited and Flagship Finance PLC at A2 and revised the outlook from
negative to stable.

With a gradual decrease in inflation, Moody's expect housing association
income to exceed cost growth, supporting operating margins and interest
coverage ratios in the medium term, underpinning the revised outlook. The
outlook also reflects important actions undertaken by Flagship Group, within
the sector regulatory framework, to maintain healthy levels of liquidity and
mitigate the adverse impact of the challenging operating environment,
including active mitigation of its sales market exposure. These actions create
a strong operating environment for Flagship Group to continue to deliver
growth.

For more information: treasury@flagship-group.co.uk
(mailto:treasury@flagship-group.co.uk)

Jonathan McManus, Chief Financial Officer

Flagship Housing Group Limited is a Community Benefit Society with registered
number 31211R and a Registered Provider with the Regulator of Social Housing
with number 4651.

 

 

 

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