REG - Incommunities Trsry. - Credit Rating Announcement

S&P GlobalAnnouncement

29/03/2023 10:15

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RNS Number : 6126U  Incommunities Treasury PLC  29 March 2023

S&P Global Ratings' credit rating March 2023

 

On 28 March 2023 S&P Global Ratings issued a rating update for
Incommunities Limited lowering its long-term issuer credit rating to 'A' from
'A+' (outlook negative), highlighting "the increasing investment in existing
assets, to address enhanced building and safety standards and the push toward
energy efficiency, further exacerbated by inflationary pressures".

 

Rachael Dennis, Incommunities Chief Executive Officer said:

 

"Incommunities remains committed to supporting our customers though our asset
improvement plan, despite the current macroeconomic climate which is affecting
all housing associations. Our customers and our local community remain at the
heart of our business and the investment in existing assets is a priority for
our Group Board and Executive Management team. As a result, we view the rating
outcome as a reflection of our resilience in the current climate as well as
our commitment to provide well maintained and safe homes for our residents. We
continue to retain flexibility to adjust our development programme should cost
rise above our current expectations."

 

For further information please contact Surinder Sandhu
(surinder.sandhu@incommunities.co.uk
(mailto:surinder.sandhu@incommunities.co.uk) ).

 

http://www.rns-pdf.londonstockexchange.com/rns/6126U_1-2023-3-29.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/6126U_1-2023-3-29.pdf)

 

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