Moody’s today, 10 October 2024, confirmed Abri’s credit rating of A3 stable, reflecting Abri’s strong financial position and continued resilience against a challenging economic backdrop.
The rating follows the retention of Abri’s G1/V1 rating from the Regulator of Social Housing in November 2023, demonstrating effective governance and financial and operational resilience.
On Abri’s performance, Vimal Gaglani, Director of Treasury and Financial Planning at Abri said:
“We’re pleased to have retained our A3 stable rating. This, alongside a strong financial performance and G1/V1 rating, demonstrates our strength and resilience in a difficult operating environment.
“Moodys have recognised Abri’s moderate gearing, solid liquidity, and strong market position as a growing housing association. With our retained rating, and having transferred engagements of Silva Homes to the Group this month, we’ll be able to deliver even more on our commitments to build more affordable homes, invest in our existing homes and improve our customer services.”
As Abri approaches the end of its Achieving Together strategy (2022-2025), the rating allows it to look to the future with confidence, while keeping its customers at the heart of everything it does. Abri is investing in its existing homes - improving building and fire safety, tackling issues like damp and mould and enabling all our homes to reach EPC C.