Standard and Poors (S&P) have today affirmed its credit rating on Accent as ‘A’, with a stable outlook.
This reaffirmation by S&P follows the sale of £125m of retained bonds in 2021 to support the continued growth of our development ambitions and the investment in our current homes and services.
As a national organisation with 20,800 homes based in the north, east and south of the country, S&P notes that our “management demonstrates the skills and expertise required to manage the association's diversity and scale of operations”, despite the current pressures of the operating environment. It adds, “Accent's prudent cost management and expanding asset base will help it to absorb pressures arising from current headwinds in the sector and the group's need to invest in existing properties”.
Chief Executive Paul Dolan said: “We are delighted with this outcome. It pays testament to the strength of our corporate strategy, financial resilience, and the strong leadership and governance in place at Accent. This solid foundation gives us the ability to continue with our significant development programme building sustainable homes in areas of high housing need. Our growth has been further strengthened by our new strategic partnership with Homes England which supports our ambition to deliver 400 new affordable homes per annum, with a focus on larger, land-led schemes.”
Paul continued, “as we navigate the cost-of-living crisis, our focus on delivering core service excellence and investing in our current homes remains a top priority. This rating demonstrates how we are equipped to remain agile in a changing world and continue to deliver for our current and future customers in these difficult times.”
For media enquiries, and to arrange interviews with Paul Dolan and Kirsty Spark, Executive Director of ICT and Finance, contact Stacey Healey, Brand and Communications Strategist on 0345 678 0555 or email stacey.healey@accentgroup.org
