bpha Credit Rating reaffirmed at A+ (stable)

Credit rating agency Standard & Poor’s (S&P) has reaffirmed bpha’s long-term credit rating of A+ (stable) on 25 October 2023.

In their Research Update, S&P have commented that bpha continues to manage its financial position well and maintain financial resilience despite the current challenging operating environment.

The key drivers of their assessment are:

  • the flexibility in our financial plans, both in relation to investment in new and existing homes
  • our strong liquidity and good access to funding sources if needed
  • strong demand for our properties and low exposure to market sales
  • the experience of the management team and their understanding of business opportunities and challenges, which mean that our strategy and planning support strong credit indicators.

S&P also reaffirmed at A+ the senior secured debt rating on bpha’s outstanding bonds issued by bpha Finance plc.