Credit Opinion

THFC has been rated by Standard and Poor’s an A (stable) long term credit rating.

THFC maintains a close relationship with the UK Government, EIB, NHF and the Regulator of Social Housing. THFC continues, as it has since its inception, to provide vital provision of housing in the social/affordable housing sector.

THFC first obtained an ‘A+ stable’ rating from Standard and Poor’s in June of 2004 which was maintained until July 2016, following the downgrade of the UK Sovereign due to the UK’s decision to leave the European Union.

Standard and Poor’s affirmed THFC’s ‘A stable’ rating and AHF as ‘AA stable’ in September 2022 and the rating report can be downloaded here. S&P state ‘We expect THFC to continue its public policy mandate and to maintain a relevant role in the market, even though housing associations are increasingly accessing the market directly. We also anticipate that THFC will maintain very strong capitalization and strong liquidity, even though uncertainty with regard to the Brexit negotiations could cause the creditworthiness of its underlying borrowers to deteriorate.’