54XE A2dominion 28

TIDM54XE

RNS Number : 5252Y

A2Dominion Housing Group Ltd

03 January 2024

Date 03/01/2024

Regulatory Ratings Review - A2Dominion

Today the Regulator of Social Housing (RSH) has downgraded A2Dominion from G1/V2 to G3/V2, following a review in September 2023.

A2Dominion's new grading shows that whilst the Group continues to meet the RSH's financial viability requirements (V2), it also needs to make significant improvements to its governance arrangements (G3) to fully comply with their Governance & Financial Viability Standard.

The housing association had already recognised the need to make important changes in early 2023. As a result, it accelerated the implementation of a wide range of improvements, launched a new strategy and plan, and engaged even more closely with the Regulator, including some self-referrals.

The Group - which retained its Fitch credit rating of A with a stable outlook in October 2023 - is now taking additional steps to improve aspects of its governance relating to business planning, risks and controls, and data, in order to return to a fully compliant grading. It will continue to work closely with the Regulator to put a joint plan in place over the coming months.

For a full copy of the Regulatory Judgement, follow this link:

https://www.gov.uk/government/publications/regulatory-judgement-a2dominion-housing-group-limited/current-regulatory-judgement-a2dominion-housing-group-limited-3-january-2024

Press office contact

Name

Sarah Ashton

A2Dominion Group

Mob: 07823 532 199

Sarah.ashton@a2dominion.co.uk

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January 03, 2024 04:43 ET (09:43 GMT)

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