Positive outlook for Connexus as credit rating improves
Despite being only 12 months into a merger, Connexus, which owns and manages over 10,000 homes, has had its Baa1 credit rating reaffirmed and the outlook increased from stable to positive.
Moody’s rating has validated the financial strength of Connexus and how it has already outperformed in terms of its business plan, demonstrating strong, solid and sound financial management. Connexus is also performing well against its peers on all Value for Money metrics and continues to demonstrate a drive for efficiencies.
The rating is also reflective of the refined and strong development programme for Connexus, with plans to build over 1000 homes over the next 2 years, a combination of outright sale, shared ownership and rented accommodation across Herefordshire and Shropshire.