Clarion Funding plc Affirmation of credit rating from S&P (0993H)

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RNS Number : 0993H

Clarion Funding plc

21 November 2022

Clarion Funding plc

21 November 2022

The Group is pleased to receive affirmation of our A- credit rating from S&P today, with a 'stable' outlook.

Earlier in the week the Regulator of Social Housing moved Clarion, along with 18 other registered providers, to a "V2" rating from "V1". This rating revision was based upon the wider macro-economic challenges and not Clarion specific factors.

This year we have dialled down our short term development plans in light of significantly changed macro-economic conditions. We remain confident that Clarion's prudent approach to financial management, the significant flexibility in our forward plans and our strong liquidity positions us well to respond to changed economic environments. We are pleased that S&P has recognised this in its rating decision today.

For more information, please contact Andrew Hill, Director of Treasury and Corporate Finance, Clarion Housing Group - 0208 315 3239 / [e-mail].

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November 21, 2022 08:43 ET (13:43 GMT)