On 29 November 2024, Moody’s reaffirmed Abri’s credit rating of A3 stable for all of its entities. This comes ahead of its partnership with Octavia Housing (Octavia) which would see Octavia become a subsidiary of Abri.
The A3 stable rating reflects Abri’s strong financial position and capacity to support Octavia in completing its recovery. The rating follows Abri’s retention of G1 V1 rating from the Regulator of Social Housing on 27 November 2024. Moody's acknowledged Abri's experience and expertise in forging successful partnerships with other housing associations, noting that these strengths will enable the successful integration of Octavia into the group.
Gary Orr, Group Chief Executive at Abri said:
“We’re pleased that the Regulator has reaffirmed Abri’s G1 V1 rating as a well-governed and financially sound organisation. This, coupled with Moody’s A3 stable rating for the combined group, including Octavia, demonstrates Abri’s ongoing financial strength and financial resilience.
“These ratings show that Abri is well-placed to complete the successful delivery of its current five-year strategy in 2025 and to replace this with a new, long-term strategy aligned to its external operating environment and the government’s proposed national housing strategy.”