Hightown Housing Association has been awarded an A3 investment grade rating by Moody’s Investors Service.
One of the fastest growing housing associations in the UK, Hightown plans to build 1,000 homes over the next two years.
The new rating by Moody’s, a leading provider of credit ratings, research and risk analysis, reflects Hightown’s stable operating margins, single entity and strong management and governance.
The A3 rating means Hightown will have increased access to a range of funding sources to invest in building more homes to help meet the significant demand for affordable housing in their area.
Hightown is a charitable housing association operating in Hertfordshire, Bedfordshire, Buckinghamshire and Berkshire. Currently managing over 6,700 homes, it is also a provider of care and supported housing to disabled or vulnerable people.
This rating will increase investor confidence and help Hightown meet their value for money objectives for building new homes while also delivering significant social value and benefits. Link Market Services provided advice to Hightown during the rating process.
Hightown’s Chief Executive, David Bogle, said:
“We’re delighted that Hightown’s reputation for strong financial management has been reflected by this investment rating.
There is a huge demand for affordable housing and increased investor confidence means we can continue to build hundreds of high quality homes to people who cannot afford to rent or buy at market rates. This includes providing homes and support for the growing number of people sleeping rough and children and families living in temporary accommodation.”