Wheatley Group Capital PLC Wheatley Group retains A+ (stable outlook) rating (7211A)
25 Maio 2023 - 1:10PM
UK Regulatory
TIDM60RZ
RNS Number : 7211A
Wheatley Group Capital PLC
25 May 2023
Wheatley Group retains its A+ (stable outlook) rating by
Standard & Poor's
In its research update released today (Thursday, May 25, 2023),
Standard & Poor's Global Ratings (S&P) reported Wheatley -
Scotland's leading housing, care and property-management group -
had retained its A+ (stable outlook).
Wheatley, which owns and manages over 93,700 homes in 19 local
authority areas in Scotland, had its annual review carried out by
S&P in April this year.
This involved detailed analysis of the Group's business and
financial performance, progress with its new-build programme,
success in embedding sustainability targets into its financing and
the evolving Scottish policy and regulatory context.
The retention of the A+ credit rating for Wheatley underlines
the strong financial management within the Group against a backdrop
of a challenging economic operating environment and downgrades
across the housing sector.
The research update highlighted the "strong demand for
Wheatley's properties and prudent planning" and a "focus on
traditional activities and expanding asset base".
S&P's report also noted Wheatley's focus on achieving
ambitious net-zero and environmental objectives, adding: "The
Group's strategy continues to place a strong emphasis on asset
quality and achieving sustainability targets, such as energy
efficiency and carbon neutrality. This is evidenced in more than
90% of its stock at Energy Performance Certificate (EPC) C
standards (or higher)."
As well as the Group retaining its rating, S&P also
announced Lowther, which provides Wheatley's mid-market homes and
property-management services, had retained its 'A' rating.
Wheatley Group Chief Executive Steven Henderson said: "In these
particularly challenging times, it is an outstanding achievement to
be among an elite group of housing providers in the UK to hold an
A+ (stable outlook) rating.
"It is further validation of our strong financial position and
the vision set out in our five-year strategy, 'Your Home, Your
Community, Your Future'.
"It is also testament to the outstanding work carried out each
and every day by over 3000 staff across the west, east and south of
Scotland who are Making Homes and Lives Better for customers in our
communities."
For more information, contact: Stuart Darroch
Tel: 0141 274 5708
Email: stuart.darroch@wheatley-group.com
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May 25, 2023 12:10 ET (16:10 GMT)
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