Aster Group maintains top governance and viability ratings

Housing association Aster Group has maintained its G1/V1 ratings following an in-depth assessment by the Regulator for Social Housing (RSH).

The ratings reflect the group’s strengths in corporate governance and long-term financial viability.

The group, which has a portfolio of over 30,000 homes across the south of England, maintains the top ratings achieved in 2017.

The regulatory judgement of its governance, compliance, risk management, financial forecasts and liquidity were informed by assessments carried out by RSH prior to the Coronavirus outbreak significantly impacting on the UK.

Dawn Fowler-Stevens, group growth and assurance director, said: “We are proud to be recognised by the regulator as a strong organisation.

“We are in unprecedented times, with huge challenges facing every business across the UK. A commitment to strong governance and sound financial management are more crucial than ever. However, the ratings are not just about our strength, they represent a validation of our long-term strategic vision and our ability to harness flexible, dynamic governance and financial planning to ensure that our business can adapt to a whole range of risks and opportunities. With all that in place we are confident we are well placed to navigate through the current uncertainty and continue to play our role in meeting the diverse housing needs of people across the country.”

In the year ending March 2019, Aster reported turnover of £212m (2018: £205m) and pre-tax profit to £55m (2018: £50m).

It is one of a group of housing associations that helped launch MORhomes, a pioneering vehicle set up as a new sector borrowing platform designed to support a commitment to the development of affordable homes in the UK’s social housing sector.