We’re pleased to have retained our current credit rating of single ‘A’ (outlook stable) from Standard & Poor’s (S&P).
Despite the ongoing challenging operating environment, we have maintained an investment grade and Karbon remains in a strong financial position to be able to deliver against the promises made in our Stronger Foundations Strategy 2021-2026.
The stable outlook reflects our continued focus on our core business of providing high quality homes at social and affordable rents. In particular it highlights our capacity for continued investment in our existing properties along with our commitment to fire safety and improving the energy efficiency of our homes. We already have 80% of our homes standing at EPC C and have a goal to reach 100% by 2030.
We also continue with our goal to deliver at least 500 high quality new homes each year and this is supported by our recent strategic partnership with Homes England.
S&P commented specifically on Karbon’s ‘experienced management team’, ‘solid risk management policies’, and highlighted our focus on improving the quality of our assets. S&P also consider Karbon to have ‘very strong’ liquidity to support our future plans.
This strong credit rating will enable us to continue with our mission to provide a strong foundation for life, helping people to shape and develop their own future through our three strategic aims of Homes, Customers, and Place.