Credit rating retained for third year running
Leading credit rating agency, Moody's, has announced that Bromford have retained their industry-leading AA3 rating for the third 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 18 December, they said that Bromford's AA3 rating reflects ‘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 borrowing, investment and interest rates as well as providing a whole host of other business benefits.
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 fantastic colleagues we have 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 the interest and the capital lent to them. The better the rating, the safer your money is.