Grand Union Housing Group is operationally effective and financially sound, emphasised by the retained A3 (stable) rating from Moody’s. Grand Union remains in a strong financial position and continues to provide a wide range of properties for rent or purchase through shared ownership as well as a comprehensive range of housing services to our customers.
The core business remains the rental of social housing properties. Our homes are of good quality with an efficient and effective repair service, a programme of major component replacements (e.g. kitchens, heating systems) and robust neighbourhood management. In recent customer satisfaction surveys, Grand Union received top quartile results of satisfaction in all the services provided.
The rating from Moody’s confirms Grand Union’s financial strength and it will provide the platform for the raising of finance via a bond issue in 2013 which has secured the continuation of our development of new homes until 2018, delivering approximately 165 units per annum.
Grand Union has established a subsidiary company, Grand Union Group Funding plc, to take responsibility for the management of the Bond.