REG - Karbon Homes Limited - Research Update from S&P Global Ratings

S&P GlobalAnnouncement

19/05/2023 15:45

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RNS Number : 0790A  Karbon Homes Limited  19 May 2023

RNS Release - To be issued 19/05/2023

 

Karbon Homes Ltd: Credit Rating outlook revised to 'Positive'; 'A' Ratings
Affirmed

 

Karbon Homes Ltd is pleased to share with you, following the announcement made
yesterday by S&P Global Ratings, that our 'A' credit rating has been
affirmed and that we have received an uplift to our ratings outlook from
'stable' to 'positive'.

 

In their report, S&P forecasts that Karbon "will maintain relatively
strong key financial metrics despite challenges affecting the social housing
sector'' and that "Karbon's adjusted debt metrics and liquidity are relatively
strong compared with those of many rated peers''.

 

Commenting on the report, Andrew Thompson (Karbon Homes' Assistant Director:
Treasury) said: "This is a very welcome result and a testament to the efforts
we've made at all levels of the organisation over the past 12 months, in
continuing to deliver against our 'Stronger Foundations Strategy'.  This has
been a challenging time for our customers, dealing with increases to their
costs of living, as well as for our supply chain in delivering new homes and
also ensuring our existing homes are well-maintained.  Yet, through the
dedication of our colleagues and our board, we were confident that Karbon
would respond positively to these challenges, making sure we can continue to
provide strong foundations for life across the communities we serve.  We are
pleased that this credit rating from S&P Global Ratings acknowledges our
efforts over the past year in these areas.''

 

The full report from S&P can be found on our website at:

https://www.karbonhomes.co.uk/about-us/corporate/
(https://www.karbonhomes.co.uk/about-us/corporate/)

 

 

 

 

ENDS

 

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