Prudent planning
While continuing to invest in the day-to-day running of our organisation, we’re not shy to acknowledge the external pressures posed by rising costs and higher interest rates. During the past year, we had an appropriate pause on new development commitments and hedged our exposure to rising interest rates. These were an important response to the difficult economic backdrop.
We continue to manage our finances carefully, maintaining strong liquidity so that funds are available when we need them. We regularly stress test our long-term financial plan.
Risk
Given the current high level of inflation and ongoing difficult market conditions, we closely monitor our appetite for, and exposure to, risk. As well as the day-to-day operations, we’re keeping a close eye on the integration of all parts of the organisation following the merger.
We’re doing this so that the risk associated with major change doesn’t impact our ability to continually improve the services we offer our residents.
Borrowing
We borrow to invest and deliver much needed new homes.
You can see more details about our borrowing and how we fund our operations in the financials section of our annual report.
Credit ratings
Our latest credit ratings are: