Platform HG Financing PLC Strategy/Company/Ops Update (7663Z)

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RNS Number : 7663Z

Platform HG Financing PLC

27 January 2022

Platform HG Financing Plc

27 January 2022

S&P Affirms Platform Housing Group's A+ (stable) Rating

Platform Housing Group (Platform), the largest housing association in the Midlands, has had its A+ (stable) rating affirmed by S&P. At the same time, the same rating has been affirmed for Platform HG Finance PLC's outstanding senior secured bonds and the senior secured GBP1 billion euro medium-term note (EMTN) program.

The rating reflects Platform's strong existing and projected performance in its core social housing portfolio. The Group's financial metrics are expected to show resilience to operating pressures and remain one of the highest amongst its peers. Liquidity is assessed to be very strong, supported by a prudent treasury policy.

The rating adds to the A+ (stable) rating with Fitch (which was affirmed in November 2021) and continues to hold Platform as one of the strongest rated organisations in the social housing sector.

Rosemary Farrar, Chief Finance Officer at Platform Housing Group said: "We are delighted to have our A+ rating affirmed, which demonstrates that we continue to be an excellent credit in the sector. The rating highlights our continued strong performance in the face of macro-economic challenges including high inflation, supply chain disruption and labour shortages. The confirmed rating is excellent news for our customers, as it will help us access the funding we need to invest in our homes and our communities as we continue to manage and develop quality, affordable and sustainable housing for those in the Midlands."

For further information please contact Ben Colyer, Corporate Treasury Director at Platform Housing Group on 07918 16099 / [e-mail]

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January 27, 2022 02:00 ET (07:00 GMT)