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RNS Number : 4286I Triple Point Social Housing REIT 07 August 2023
7 August 2023
Triple Point Social Housing REIT plc
(the "Company" or, together with its subsidiaries, the "Group")
INVESTMENT GRADE CREDIT RATING REAFFIRMED
The Board of Directors of Triple Point Social Housing REIT plc (ticker: SOHO)
is pleased to announce that Fitch Ratings Limited ("Fitch") has reaffirmed the
Company's existing Investment Grade, long-term Issuer Default Rating (IDR) of
'A-' with a stable outlook and a senior secured rating of 'A' for the Group's
existing loan notes. Fitch published its first rating on the Company in August
2021 with the same Investment Grade distinctions.
The Fitch Rating Action Commentary can be read in full here
https://www.fitchratings.com/research/corporate-finance/fitch-affirms-triple-point-social-housing-reit-plc-idr-at-a-stable-secured-debt-at-a-04-08-2023
(https://www.fitchratings.com/research/corporate-finance/fitch-affirms-triple-point-social-housing-reit-plc-idr-at-a-stable-secured-debt-at-a-04-08-2023)
ENDS.
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
Triple Point Investment Management LLP Tel: 020 7201 8989
(Investment Manager)
Max Shenkman
Isobel Gunn-Brown
Akur Capital (Joint Financial Adviser) Tel: 020 7493 3631
Tom Frost
Anthony Richardson
Siobhan Sergeant
Stifel (Joint Financial Adviser and Corporate Broker) Tel: 020 7710 7600
Mark Young
Rajpal Padam
Madison Kominski
Brunswick Group (Financial PR Adviser) Tel: 020 7404 5959
Nina Coad
Diana Vaughton
Mara James
The Company's LEI is 213800BERVBS2HFTBC58.
Further information on the Company can be found on its website at
www.triplepointreit.com (http://www.triplepointreit.com/) .
NOTES:
The Company invests in primarily newly developed social housing assets in the
UK, with a particular focus on supported housing. The majority of the assets
within the portfolio are subject to inflation-linked, long-term, Fully
Repairing and Insuring ("FRI") leases with Approved Providers (being Housing
Associations, Local Authorities or other regulated organisations in receipt of
direct payment from local government). The portfolio comprises investments
into properties which are already subject to a lease with an Approved
Provider, as well as forward funding of pre-let developments but does not
include any direct development or speculative development.
There is increasing political pressure and social need to increase housing
supply across the UK which is creating opportunities for private sector
investors to help deliver this housing. The Group's ability to provide forward
funding for new developments not only enables the Company to secure fit for
purpose, modern assets for its portfolio but also addresses the chronic
undersupply of suitable supported housing properties in the UK at sustainable
rents as well as delivering returns to investors.
The Company is a UK Real Estate Investment Trust ("REIT") listed on the
premium segment of the Official List of the UK Financial Conduct Authority and
is a constituent of the FTSE EPRA/NAREIT index.
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