Catalyst’s response to RSH rating, December 2020
Catalyst Housing Limited has had its rating revised by the Regulator of Social Housing (RSH). We retain our G1 for governance (the highest regulatory rating) and have been regraded from V1 to V2 for viability.
At V2, Catalyst remains compliant and aligned with the majority of the G15 housing associations, and confirms the regulator’s view that Catalyst has the financial capacity to deal with a reasonable range of adverse scenarios but needs to manage material risks to ensure continued compliance.
The regrade reflects the current pressures faced by many in the sector due to increased investment in our existing homes. This, alongside the pressures faced by the housing market and the wider economy create a more challenging operating environment.
We continue to rigorously stress test our business plan to ensure our ongoing financial viability, which is supported by very strong liquidity, low gearing and assets of £3 billion, of which over £1 billion are unencumbered.
With less than 40% of the development pipeline in contract, and a strong focus on increasing delivery through regeneration, Catalyst has considerable control over the timing and scale of our programme and can recalibrate as required in changing circumstances.
We continue to prioritise the safety and well-being of our customers and believe we are well-placed to continue supporting both them and our wider communities through these challenging times.
This update may contain certain forward-looking statements reflecting, among other things, our current views on markets, activities and prospects. Actual outcomes may differ materially. Such statements are a correct reflection of our views only on the publication date and no representation or warranty is given in relation to them, including as to their completeness or accuracy or the basis on which they were prepared.
For further information, please contact:
0208 832 3394