Moody’s outlook upgraded to stable

We hang our hat on our continued financial stability, so we’re delighted to confirm that our Moody’s outlook has been upgraded from negative to stable, and we’ve retained our credit rating of A2. This makes us one of very few developing registered providers of social housing with an A2 rating.

In their report, Moody’s cited a lower debt peak as the main driver of the change; this is due to reduced development activity and spending, along with decreased fire safety costs for recladding. Moody’s also noted that they “expect Moat’s financial performance to remain strong compared with peers”.

Gloria Yang, Executive Director of Finance at Moat, said: ‘We’re pleased that our outlook has been upgraded to stable, with our credit rating reaffirmed as A2. This solid rating reflects our long-held financial track record, and allows us to continue investing in our customers, communities and colleagues and building much-needed new homes for affordable rent and shared ownership. 

“Looking ahead, we remain unwavering in our investment commitments. Along with our ambition to deliver a great customer experience, we want to provide homes that our customers can be proud of. This includes substantial investments in our existing homes to make them more energy-efficient for our customers in the coming years, with the strong support of investors and the Social Housing Decarbonisation Fund.”