MORhomes PLC MORhomes received an MSCI ESG Rating of AA (3062H)
03 Agosto 2021 - 5:30AM
UK Regulatory
TIDM61DP
RNS Number : 3062H
MORhomes PLC
02 August 2021
Press Release
Issued: 3 August 2021
As of 2021, MORhomes received an MSCI ESG Rating of AA
In 2021, MORhomes PLC received a rating of AA (on a scale of
AAA-CCC) in the MSCI ESG Ratings assessment.
MSCI ESG Research provides MSCI ESG Ratings on global public and
a few private companies on a scale of AAA (leader) to CCC
(laggard), according to exposure to industry-specific ESG risks and
the ability to manage those risks relative to peers. Learn more
about MSCI ESG ratings here:
https://www.msci.com/documents/1296102/1636401/MSCI+ESG+Rating+Brochure-V3.pdf/f2b4a27a-58f5-42c7-880b-cf8201039eaa.
Patrick Symington, Chief Executive of MORhomes, said: "MORhomes
has been leading the way in the sector on ESG, being the first
Social Bond in 2019, an early adopter of the Sustainability
Reporting Standard, launching a Sustainable Bond Framework in 2021
and introducing the sector-leading Sustainable Housing Assessment.
We are therefore delighted to have received an unsolicited MSCI ESG
Rating of AA ("Leader") in 2021 which is a strong independent
external recognition of our ESG credentials and leadership in this
area."
Dr Arthur Krebbers, Head of Sustainable Finance, Corporate, at
NatWest Markets said: "It is very pleasing to see MORhomes'
sustainability strategy and impact recognised by its latest MSCI
ESG rating. ESG ratings are becoming an increasingly prominent
feature of the capital markets, utilised by a broad range of
responsible investors."
DISCLAIMER STATEMENT
THE USE BY MORHOMES PLC OF ANY MSCI ESG RESEARCH LLC OR ITS
AFFILIATES ("MSCI") DATA, AND THE USE OF MSCI LOGOS, TRADEMARKS,
SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A
SPONSORSHIP, ENDORSEMENT, RECOMMENDATION, OR PROMOTION OF MORHOMES
PLC BY MSCI. MSCI SERVICES AND DATA ARE THE PROPERTY OF MSCI OR ITS
INFORMATION PROVIDERS, AND ARE PROVIDED 'AS-IS' AND WITHOUT
WARRANTY. MSCI NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF
MSCI.
ENDS
Notes to editors
MORhomes is a unique and innovative borrowing vehicle for the UK
social housing sector. It is constituted as a PLC and applies the
highest standards of corporate governance. Its shares are owned by
over 60 major not-for-profit UK housing associations. Its public
debt is traded on the London Stock Exchange. It raises finance on
the bond markets and lends it on to housing associations, who must
be shareholders.
MORhomes provides its borrowers with
-- Flexibility to borrow in amounts from GBP10m upwards - saving
the cost of having to borrow larger amounts which might be more
than is needed at any one time
-- Quick access to the market, reducing uncertainty over the price of funds
-- Flexibility on types of security offered and efficient use of security
-- Immediate access to funds with up to a year to put security in place
-- Simple documentation and reduced costs and resources in going to the market
-- Minimal corporate financial covenants
-- Transparent predictable credit process and annual credit limit.
MORhomes is 100% owned and controlled by housing associations.
It is capitalized by equity and subordinated debt provided by its
borrowers, and third-party junior debt. All MORhomes bonds are
Social Bonds in accordance with the ICMA Social Bond Principles
2018, and in February 2021 MORhomes launched its Sustainability
Bond Framework which will enable all future MORhomes bonds to be
Sustainable Bonds.
MORhomes' first issue was completed in February 2019 enabling it
to on-lend GBP260m. The loan portfolio has now increased to
GBP457m. Its current borrowers are:
Borrower Name Borrower Group Name
A2Dominion South Ltd A2Dominion
Aster Communities Ltd Aster Group
Synergy Housing Ltd Aster Group
EMH Housing and Regeneration Ltd EMH
Hafod Housing Association Ltd Hendre
Local Space Ltd Local Space
Melin Homes Ltd Melin Homes
North Devon Homes North Devon Homes
Heart of Medway Housing Association MHS
Ltd Pobl
Charter Housing Association Ltd Pobl
Tai Gwalia Cyf South Yorkshire HA
South Yorkshire Housing Association Wandle
Ltd Wandle Housing Association Thrive Homes
Thrive Homes Origin
Origin Housing Limited Eastlight
Eastlight Community Homes Housing Solutions
Housing Solutions Calico
Calico Homes
For more information please contact Patrick Symington, CEO
MORhomes
patrick.symington@morhomes.co.uk 07867 537373
MSCI ESG Research
MSCI ESG Research provides in-depth research, ratings and
analysis of the environmental, social and governance-related
business practices of thousands of companies worldwide. Our
research is designed to provide critical insights that can help
institutional investors identify risks and opportunities that
traditional investment research may overlook. The MSCI ESG Ratings
are also used in the construction of the MSCI ESG Indexes, produced
by MSCI, Inc. For more information, click here:
https://www.msci.com/esg-investing
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END
MSCFLFLETAIFIIL
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August 03, 2021 04:30 ET (08:30 GMT)
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