Link Group achieves A+ credit rating
Link has responded to the Scottish Government’s target to deliver 50,000 affordable homes for rent by 2021 with an ambitious development programme to build more than 3,200 homes within the next five years.
Although Link expects to receive more than £200 million of grant funding towards the delivery of the homes, the Association has estimated that will also require £180m in private investment. To assist in sourcing this funding Link undertook a credit rating assessment with S&P.
The credit agency was not only comfortable with Link as a long-term stable investment, but also with the Scottish Government’s support for Registered Social Landlords in general. Link is one of only two Scottish housing associations to obtain a credit rating (the other being Wheatley Group) and is one of a relatively small number of A+ rated housing associations throughout the UK.
Neil Hall, director of finance and corporate services, said: “This rating is testament to the hard work of Link’s Board and Senior Management Group and underlines the strong strategic management and financial stewardship which has prevailed in Link. It demonstrates that Link is well placed to use this rating to attract investors and funders to support Link’s financing needs. It is a significant landmark in Link’s long and successful history and I am delighted with the credit rating.”