We are pleased to have retained our G1 (Compliant) status.
We are also satisfied that the re-grade to V2 (Compliant) reflects that we are making our business work harder in pursuit of our clear mission statement and our social purpose. Estuary has re-affirmed that, even within a challenging external environment, we continue to include the provision of new homes within our core purpose.
We are particularly encouraged that in their judgement the HCA referenced our adequately funded business plan, sufficient security, appropriate controls and mitigations.
The re-grade must be seen within the context of the sector-wide “re-calibration” of financial viability grades previously announced by the HCA. The grading confirms that we are compliant and using our resources to good effect.