Outlook improves as Moody's confirms A3 credit rating for Connexus

Connexus has retained its A3 credit rating following Moody's latest review, with the organisation's outlook improving from negative to stable.

Moody's is one of the leading organisations that assesses the financial strength of companies, governments and not-for-profit organisations. Its ratings consider factors including financial performance, future plans and wider organisational resilience.

The latest review confirmed Connexus' A3 rating and Baseline Credit Assessment (BCA) at baa2 - recognising improvements in financial performance, stronger cost controls and actions taken to manage future investment requirements across its portfolio.

Kate Smith, Chief Executive of Connexus, said: "We are pleased to have retained our A3 credit rating from Moody's and are encouraged by the news that our outlook has moved to stable.

"The change in outlook is an important vote of confidence in the approach we are taking as an organisation. We have been clear that our focus is on prudent financial management, improving services for customers and building a cost aware culture, which balances investment in both new and existing homes. I am pleased that this has been recognised in the latest review.

"Our priority now is to continue modernising the organisation, demonstrating strong governance, and delivering in the rural communities we serve."

Connexus subsidiary Herefordshire Capital Plc also saw its A3 rating retained and its outlook changed to stable.