News

Ratings agency Fitch has confirmed our credit rating as ‘A’, and has revised the outlook from ‘stable’ to ‘negative’. According to Fitch, 'A' credit ratings “denote expectations of low default risk. The capacity for payment of financial commitments is considered strong”.

In its report, the leading credit rating agency said the revision “reflects the risk that A2Dominion's credit profile will weaken over the five-year forecast period to a level no longer commensurate with the current rating, given the limited headroom”.

Fitch assessed A2Dominion’s Standalone Credit Profile (SCP) at ‘A-‘, with Fitch adding: “Continuing high demand for social and affordable housing and ongoing cash flow from rented properties support A2Dominion's credit profile, despite the challenging economic environment.”

Tracey Barnes, Chief Financial Officer at A2Dominion said: “Fitch’s rating of A with negative outlook recognises that, against the continuing challenging macroeconomic environment, A2Dominion remains a good investment with a strong ability to meet its financial commitments.

“Our Board is firmly committed to maintaining and building the organisation’s financial strength and, in parallel, is steering the organisation to fully deliver the voluntary undertaking and return A2Dominion to a compliant governance grade.

“The business plan shows substantial improvement in financial metrics over the medium term and the strong balance sheet provides flexibility and resilience in the face of continuing economic uncertainty.”

Our balance sheet remains strong, with a Fitch A credit rating, more than £3.5bn of fixed assets and investments, and a reserves position of over £1bn.