Link Group retains A (stable outlook) rating
The rating announcement provides independent assurance that the Link group’s debt service coverage and profitability remain “solid”.
Link Group Limited has reported that Standard & Poor’s Global Ratings (S&P) and its ratings committee have retained Link Group’s rating at ‘A’ with a stable outlook.
In its research update released last week, S&P highlighted Link’s key role in supporting the Scottish Government in providing 70,000 new social homes across Scotland, the high demand for Link homes and services, and the housing provider’s very low void levels.
Nick Pollard Group Finance Director said: “This is a very strong result when compared with other sector providers and that is especially the case considering the challenges of the last 18 months.”
The rating announcement provides independent assurance that the Link group’s debt service coverage and profitability remain “solid”, not only currently but throughout the forecast period in line with Link’s own analysis.
Nick commented further: “The rating analysis refers to our strong position with the Scottish Government and the Regulator which are important relationships for Link.
“It also affirms the positive impact of the Weslo business transfer we completed on 1 June 2021, which is encouraging to hear at this stage.”
The reaffirmation of Link’s rating follows October’s announcement that the organisation obtained £80 million of funding through an Environmental, Social and Governance (ESG) sustainability linked loan from Scottish Widows; becoming the first Scottish social housing provider to access ESG funding on this scale.