NEWS RELEASE
19 December 2011
Leading credit rating agency Moody’s Investor Services has awarded rural affordable housing specialist Hastoe an Aa3 issuer rating. The rating reflects Moody’s evaluation of the Group as having a high level of financial security and a stable outlook.
Will Roberts, Hastoe’s Finance Director, said: “Clearly this positions us well for a bond issue in 2012. Achieving an Aa3 rating is a strong endorsement of the organisation’s solid foundations and growth strategy, combined with the continuing strength of the social housing sector. Moody’s recognised that our historic investment in people and IT, to support our customer service drive, will reinforce the strength of our business as we grow.”
“This level of rating has historically been the preserve of the larger scale associations, so we are particularly delighted with the outcome.”
Moody’s Investor Services is a leading provider of credit ratings, research, and risk analysis.
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