Financial Strength

Read our latest financial statements here

Group Report and Financial Statements 2019/20

Our latest financial statements show a continuation of our strong financial performance. The report shows that core operating business continues to perform strongly with a margin of 41% (2019: 42%) from an increased turnover of £103m.

Our highlights of 2019/2020 include:

• £60m operating surplus
• Completion of 651 new affordable homes
• A+ (negative) Credit Rating and V1/G1 viability and governance ratings maintained
• Development of a new Environmental Strategy
• Debut Private Placement raised £125m of mostly unsecured new debt at sub 2.5%

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Previous Publications

Half Year Financial Report 2019 Financial Statements 2018/2019 Half Year Financial Report 2018 Financial Statements 2017/18 Financial Statements 2016/17 Financial Statements 2015/16 Financial Statements 2014/15 Financial Statements 2013/14 Financial Statements 2012/13
S&P credit rating

On 27 October 2020, 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+ (negative).

The outlook for the rating remains ‘negative’ due to the current economic uncertainty.

In their Research Update, S&P have commented that bpha:

  • benefits from strong economic fundamentals and excellent asset quality
  • 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 bonds issued by bpha Finance plc.

2020 Credit Rating Report

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Previous Publications

2019 Credit Rating Report 2018 Credit Rating Report

Delivering best value through all our services is critical; ensuring we improve delivery of our services and maintain our strong financial position