Credit rating retained for fourth year running
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Leading credit rating agency, Moody's, has announced that Bromford have retained their industry-leading AA3 rating for the fourth year running.
The AA rating continues to be the highest grade given by Moody's to any housing association alongside Affinity Sutton and Riverside. In the Moody’s report published on 20 December, they said that Bromford's AA3 rating reflects ‘exceptionally strong margins’ and ‘low debt levels’ among other factors.
This Moody’s rating continues to give Bromford a real 'seal of approval' when it comes to attracting investors to support our borrowing, in addition to providing reassurance about our financial strength to other external organisations who we deal with, which can make us a more attractive choice to partner with.
Bromford's director of treasury, Alison Cambage, said: "Once again, this is a lovely way to end the year. It's a real acknowledgement of our financial strength, the talents of our fantastic colleagues and the way we run our business as a whole. "
What is a credit rating?
In short, it's an independent assessment carried out by a rating agency (such as Moody's) of how safe it is to lend money to an organisation. It focuses on how likely the organisation is able to repay any capital lent to them and the interest charged on it. The better the rating, the safer an investors money is.