Sovereign retains high credit ratings
The Regulator of Social Housing (RSH) has today confirmed that Sovereign has maintained the highest rating of G1/V1. This follows an In-Depth Assessment (IDA) carried out earlier this year. Full ratings for all housing associations can be found here.
Regulatory judgements are the regulator’s official view of a housing association. Ratings are published for all providers owning 1,000 or more social housing homes. Ratings are offered on financial viability (V) from one to four and on governance (G) from one to four.
• G1 = the provider meets our governance requirements
• V1 = the provider meets our viability requirements and has the financial capacity to deal with a range of adverse scenarios
Speaking earlier today Mark Washer, CEO of Sovereign said: “It is obviously reassuring to hear from the Regulator of Social Housing that we have again met the highest available standards in terms of viability and governance. I would like to thank the RSH team for the way they ran the recent In-Depth Assessment – at Sovereign we really value our interactions with the Regulator, both formal and informal.”
“We never take these ratings for granted. We will always strive to ensure that we have the right governance in place, to ensure that we are listening to our customers and delivering quality services. Our strong foundations, which give us a high financial viability rating, are also vital to our ambitious plans to move to land-led development, building more homes and creating great places. Everyone at Sovereign should be proud of the Regulator’s positive verdict following the IDA.”