Leading housing association Aster Group has maintained its AA- credit rating in a formal report published by Standard & Poor’s (S&P).
One of the world’s leading credit risk research providers, S&P identified that Aster has a stable outlook, which means the 28,000-home landlord has a high credit quality that is unlikely to change in the near term.
The report stated: “Aster will retain stable financial performance and very strong liquidity over the next two years.”
The review of Aster’s credit rating is the first since the Government announced one per cent rent reductions each year for the next four years in its July 2015 Budget.
John Brace, Aster’s Group Resources Director, said: “Since the Chancellor’s summer Budget we have been working to revise our Group strategy to ensure we are able to continue developing new homes for open market sale, shared ownership and rent. The announcement by S&P is proof of our ability to adapt to changes in the market, whilst maintaining our stability.
“Our outlook has changed from positive to stable as we have chosen to maintain our capital expenditure programme in order to deliver our vision that everyone has a home.”