Stonewater retains top regulatory ratings

The Regulator of Social Housing has announced that leading housing provider Stonewater has retained its top G1/V1 governance and viability rankings.

Nicholas Harris (1)

The ratings – which are the highest possible awarded – follow a routine regulatory check and demonstrate Stonewater’s continued strong finances and leadership.

Since its last regulatory judgement following and In-Depth Inspection in March, Stonewater has continued to focus on delivering its pledges to customers. Recent highlights in supporting this work include having its A+ credit rating affirmed by S&P Global Ratings and, earlier this month, reporting continued sound financial performance for the first six months of the current financial year.

In addition, working alongside the Guinness Partnership, Stonewater has once again been named by Homes England as one of its largest strategic partners. Stonewater has also issued its first £250m sustainability bond, following the launch of its ESG-accredited EMTN funding programme to allow bond finance of up to a total of £1bn to be raised in the coming years,

Nicholas Harris, Chief Executive at Stonewater, said: “Receiving this news that we have retained the highest regulatory grade is a real testament to the hard work and dedication from our colleagues.

“The last 18 months have been challenging for us, our customers and the sector, but we have adapted how we work to ensure that we maintain our high standards of service and provide the support our customers need, to allow them to live comfortably in their homes.”

The 34,500-home housing association recently appointed Anne Costain to take the finance reigns as Executive Director of Finance, after joining the organisation 12 months ago as Director of Corporate Finance.

Anne added: “This timely judgement reaffirms the successful work carried out by Stonewater over the last six months and will undoubtedly provide reassurance and confidence to our customers, investors and partners, as we continue to deliver on our business objectives.”