17 April 2020
Summary:The Regulator of Social Housing (RSH) has today reaffirmed Metropolitan Thames Valley’s (MTVH’s) existing ‘G1’ rating for governance and ‘V2’ rating for financial viability
The regulatory judgement follows an in-depth assessment of MTVH which took place in January and February of this year.
In the judgement, the Regulator confirmed its assurance that:
– MTVH’s governance arrangements enable it to control the business and continue meeting its objectives
– The organisation’s financial plans support its strategy, it has an adequately funded business plan and is able to meet future financial commitments
– It has the financial capacity to deal with a range of negative scenarios
MTVH Chair Althea Efunshile CBE said: “We’re pleased that the Regulator has confirmed our compliant ratings, recognising our robust governance arrangements and stable financial position.
“We’re a developer of affordable homes and, alongside our peers in the sector, cross-subsidise these properties with units for market sale. While we continually evaluate market risk and our capacity for new development, we remain committed to our ambitious development plans. We also maintain our commitment to investing in our existing properties and ensuring that our homes are safer and more comfortable for our residents.
“With uncertainty around the Covid-19 pandemic and its longer term economic impact, we continue to work to support our residents – and stand ready, as a stable and well-run organisation, to play our part with the rest of the sector in tackling the national challenges which lie ahead.”