Aster maintains G1/V1 ratings through a dynamic approach to governance

Housing association Aster Group has maintained its top governance and viability ratings as confirmed by the Regulator for Social Housing (RSH) this week.

The regulatory judgement reflects the group’s ongoing efforts to strengthen its corporate governance and long-term financial viability and is informed by interim assessments that have taken place periodically over the year.

This latest ratings update from the RSH comes 12 months after the last in-depth assessment where Aster also retained its G1/V1 rating.

Dawn Fowler-Stevens, group growth and assurance director, said: “Maintaining our G1/V1 ratings is a testament to the work put in across the business to meet the challenges posed by COVID-19 this year.

“Housing is one of the areas most acutely affected by the COVID-19 pandemic and at Aster, we’ve taken a dynamic approach to governance which recognises the value of data in the decision-making process and the importance of collaboration in the sector. The latest rating validates our commitment to strong financial management and robust, agile governance.

“It’s vital that the social housing sector continues to assess the way in which it operates to ensure it is equipped to deal with the risks, challenges and opportunities that lie ahead. Housing associations are key to the UK’s recovery from COVID-19 and, in the longer term, providing the affordable housing the country so urgently needs. Sound corporate governance is essential to making that happen.”

In the year ending March 2020, Aster reported turnover of £214.6m (2019: £211m) and pre-tax profit to £59.8m (2019: £55m).