At a glance:
Credit Rating: A+, outlook stable
Homes England compliance: V1G1
Stock: 10,672 homes
Turnover 2016/17: £65.1 million
We’ve built our development programme from a strong financial foundation and have the arrangements in place to achieve our ambition to deliver more than 500 homes a year. In 2017, we secured an £80 million loan investment from Lloyds Bank Commercial Banking and Handelsbanken [link to press release], to facilitate our further growth and development. This loan is in addition to the successful pricing of a £150 million bond issue (including £45 million retained bonds) which we announced in 2014 through our treasury financing company, Cambridgeshire Housing Capital plc. The bond carries a coupon of 4.250% and has a maturity of 31 years, and was priced at a semi-annual yield of 4.297%. This equated to a spread of 1.20% over the benchmark gilt at the time of pricing.
In 2019, Standard and Poor’s confirmed that we maintained our A+ global rating, one of the highest available.
The Regulator of Social Housing has judged CKH to have the highest rating for Viability and Governance – V1G1. The focus of its regulatory activity is on governance, financial viability and financial value for money as the basis for robust economic regulation.