Flagship Finance PLC Moody's Credit Ratings Update (0886S)

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RNS Number : 0886S

Flagship Finance PLC

01 November 2023

Flagship Housing Group Limited, parent company of Flagship Finance PLC

Credit Rating Announcement

Flagship Housing Group & Flagship Finance PLC

1 November 2023

Moody's credit ratings update

Moody's Investors Service have affirmed the credit rating of Flagship Housing Group Limited and Flagship Finance PLC at A2 and revised the outlook from negative to stable.

With a gradual decrease in inflation, Moody's expect housing association income to exceed cost growth, supporting operating margins and interest coverage ratios in the medium term, underpinning the revised outlook. The outlook also reflects important actions undertaken by Flagship Group, within the sector regulatory framework, to maintain healthy levels of liquidity and mitigate the adverse impact of the challenging operating environment, including active mitigation of its sales market exposure. These actions create a strong operating environment for Flagship Group to continue to deliver growth.

For more information: [e-mail]

Jonathan McManus, Chief Financial Officer

Flagship Housing Group Limited is a Community Benefit Society with registered number 31211R and a Registered Provider with the Regulator of Social Housing with number 4651.

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November 01, 2023 11:14 ET (15:14 GMT)