Agencies offer positive credit rating

Green scheme: Eco-homes built by Great Places Housing Group in a pedestrian-friendly zone in Larkin Grove
Green scheme: Eco-homes built by Great Places Housing Group in a pedestrian-friendly zone in Larkin Grove
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Great Places Housing Group has become the first exclusively northern-based housing association to gain positive credit ratings from two ratings agencies - Moody’s and Fitch.

The association, which has 1,500 homes in Sheffield, has been rated Aa3 by Moody’s and AA- by Fitch.

Great Places says securing the ratings is another step in its funding strategy as it works with its advisers towards a bond issue later in 2012.

Finance director Phil Elvy said: “We are looking for an issue that will be sufficient to fund our current and proposed development programme for the next five to six years.”

“We’re pleased with the ratings as Great Places is considered a relatively low risk. We believe our development strategy will help us to continue our strong track record of growth of the last decade.”