Top marks for Citizen in regulator’s latest assessment
Citizen has retained the highest possible rating in an annual assessment by the Regulator of Social Housing.
The Government body, which regulates social housing providers, confirmed our G1/V1 status in its stability check today.
The stability check measures every provider’s financial viability and governance arrangements giving a score for G (governance) and V (viability), with one being the highest.
We have now held G1/V1 status since 2018 and this confirms that we meet the governance requirements set out by the regulator and that we have the financial capacity to deal with ‘a wide range of adverse scenarios’.
The news follows the recent confirmation of our A2 rating by credit rating agency Moody’s and is another indication of our financial security.
Gary Booth, our Interim Chief Financial Officer, said: “We are pleased to retain our G1/V1 status and this demonstrates that in the eyes of the Regulator of Social Housing we are an organisation which is compliant from both a governance and viability point of view.
“In a challenging year this is really good news to receive and it is very encouraging to know that we will enter 2021 with a solid base.”