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/A-1’ long- and short-term issuer credit rating rating with stable outlook in September 2023. The rating report can be downloaded here. S&P state ‘The stable outlook indicates that S&P Global Ratings expects THFC to remain a leading U.K. Social Housing aggregator, despite strong competition in the sector and a 2% year on year decline in the balance sheet. In our view, THFC’s very conservative risk management practices will enable it to maintain a strong financial risk profile notwithstanding high inflation and pressure on the social housing providers in the U.K.’