2018 Group Report and Financial Statements
bpha Group has released its financial statements for the year ended 31st March 2018 reporting a pre-tax surplus of £42m (2017:£29m), which is the strongest performance in the association’s history. If you would like a print copy please complete this form.
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Previous PublicationsFinancial Statements 2016/17 Financial Statements 2015/16 Financial Statements 2014/15 Financial Statements 2013/14 Financial Statements 2012/13
In October 2018, S&P reaffirmed bpha’s long-term credit rating of A+
Credit rating agency Standard & Poor’s (S&P) has reaffirmed bpha’s long-term credit rating of A+.
The outlook for the rating has been revised to ‘negative’ on expectation that proportion of revenues from non-traditional activities may increase in the coming years.
In their Research Update, S&P have commented that bpha:
- benefits from strong economic fundamentals and excellent asset quality
- is expected to maintain strong EBITDA MRI margins of 44.5%
- has solid EBITDA interest coverage
- has a very strong liquidity position
S&P also reaffirmed at A+ the senior secured debt rating on bpha’s outstanding bond issued by bpha Finance plc.