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.