Stonewater retains highest HCA rating
Stonewater, one of the UK’s leading social housing providers, has retained its top G1/V1 governance and viability ranking from the Homes and Communities Agency (HCA).
The rating, which is the highest possible regulatory rating awarded by the HCA, demonstrates Stonewater’s ability to meet financial obligations, financial strengths and strong governance.
“We’re delighted to have retained this highest governance and viability rating which recognises our full compliance with the HCA’s rigorous standards,” says Nick Harris, Stonewater’s Chief Executive. “It indicates strong confidence in our Board, our Executive team, our housing strategy and our ability to deliver an ambitious development programme in a market which offers significant challenges as well as some exciting opportunities ahead.”
The Regulatory in-depth assessment, which was carried out in February 2017, reviewed Stonewater’s risk profile and governance, as well as its financial strengths and areas of development. The HCA published the results today (29 March 2017) on its website, as part of a wider list of judgements on how well registered housing providers are meeting regulatory standards.
With a £160 million turnover, Stonewater is one of the UK’s most significant social housing providers, with 30,000 homes under management and £1.6 billion in assets. Today’s G1/V1 grading follows its recent retention of an A1 credit rating from independent credit ratings agency Moody’s which reflects the housing provider’s high proportion of revenues stemming from social housing activities and strong liquidity relative to net capital requirements.