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Financial news: regulator grading, credit rating & financial report


The Regulator of Social Housing has refreshed our governance and financial viability grades.

Our governance and financial viability grades and straplines are confirmed as:

• G1 – We meet governance requirements.

• V2 – We meet viability requirements. We have the financial capacity to deal with a reasonable range of adverse scenarios but need to manage material risks to ensure continued compliance.

The regulator’s assessment is based on assurance obtained through the annual Stability Check process, as set out in Regulating the Standards.

The refreshed grades follow our recent credit rating improvement and publication of our 22-23 financial report.

Our credit rating

A leading credit rating agency has awarded us an A-credit rating with a stable outlook. This new rating is the result of work from all of our teams, and recognises that we are managing our business efficiently and effectively during this period of social and economic uncertainty.

How we improved our financial rating:

Careful investments

We are committed to continually investing in our homes and estates to provide long-term value for our residents and the local community. This allows us to strengthen and improve the future of our properties. Our unwavering dedication is to the well-being and satisfaction of our residents, fostering thriving communities that offer a secure and comfortable environment for all.

Proactive initiatives that will lower long-term costs

Our repairs team is working on projects that will help the long-term stability and durability of our homes, so that costly repairs can be avoided thanks to ongoing maintenance. Over time, we expect these initiatives will pay for themselves many times over, and sustainability is a key focus for this.

Lowering debt

We are focused on lowering our debt, freeing up stable, consistent cash flow that can be used for investment initiatives.

Our chair, Paul Brickell, said:

‘Poplar HARCA’s resilience has been secured through a clear vision, a keen understanding of risk, and prudent financial planning. Our response to the impact of cost increases has always been to consolidate.’

What this means for us moving forward:


Fitch’s rating methodology provides valuable insights into areas for improvement, guiding us toward even greater financial success and allowing us to allocate resources effectively for our community.

Enhanced Investment Opportunities

This A-grade rating opens up new opportunities for investment and growth in the future, ensuring that we continue to provide top-notch services to our community.

This supports the findings from our 2022-2023 financial report, which lays out what we have achieved, and what we hope to be able to accomplish from our new position.

Our Value For Money strategy was set in 2021, and has guided all our financial decisions since. The Finance Committee plays a crucial role in overseeing our progress toward achieving the strategy’s objectives.

Their focus is on maintaining financial resilience while delivering results within acceptable risk levels. The plan is designed to be flexible, enabling us to make minor adjustments as needed to adapt to unforeseen changes, such as changes in interest rates.

Our focus on transparency means that our stakeholders are aware of any changes to the strategy and targets, and we can provide clear context around any decisions that need to be made.

This work is all part of our ongoing commitment to residents, partners, investors, and to the wider community. Our credit rating enables us to continue providing quality housing, and creating opportunities for all our residents.

Regulator of Social HousingFitch Ratings