TIDM46GV

RNS Number : 0790A

Karbon Homes Limited

19 May 2023

RNS Release - To be issued 19/05/2023

Karbon Homes Ltd: Credit Rating outlook revised to 'Positive'; 'A' Ratings Affirmed

Karbon Homes Ltd is pleased to share with you, following the announcement made yesterday by S&P Global Ratings, that our 'A' credit rating has been affirmed and that we have received an uplift to our ratings outlook from 'stable' to 'positive'.

In their report, S&P forecasts that Karbon "will maintain relatively strong key financial metrics despite challenges affecting the social housing sector" and that "Karbon's adjusted debt metrics and liquidity are relatively strong compared with those of many rated peers".

Commenting on the report, Andrew Thompson (Karbon Homes' Assistant Director: Treasury) said: "This is a very welcome result and a testament to the efforts we've made at all levels of the organisation over the past 12 months, in continuing to deliver against our 'Stronger Foundations Strategy'. This has been a challenging time for our customers, dealing with increases to their costs of living, as well as for our supply chain in delivering new homes and also ensuring our existing homes are well-maintained. Yet, through the dedication of our colleagues and our board, we were confident that Karbon would respond positively to these challenges, making sure we can continue to provide strong foundations for life across the communities we serve. We are pleased that this credit rating from S&P Global Ratings acknowledges our efforts over the past year in these areas."

The full report from S&P can be found on our website at:

https://www.karbonhomes.co.uk/about-us/corporate/

ENDS

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

RESEADSNFDKDEFA

(END) Dow Jones Newswires

May 19, 2023 09:39 ET (13:39 GMT)

Karbon 3.375% (LSE:46GV)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Karbon 3.375% Charts.
Karbon 3.375% (LSE:46GV)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Karbon 3.375% Charts.