TIDM85FA

Notting Hill Genesis

01 September 2022

Regulatory Judgement

Notting Hill Genesis has retained its G1/V2 rating from the Regulator for Social Housing, meaning we are compliant in both governance and viability.

The decision follows an in-depth assessment carried out earlier in 2022, looking at our ability to meet our financial obligations, our approach to value for money and our governance.

Our regulator's judgement said we have an adequately funded business plan, sufficient security in place and are forecast to be able to meet our financial covenants even under a range of adverse scenarios.

It adds that we need to manage material risks relating to our programme of planned investment in existing stock, aimed at meeting energy efficiency, fire safety and building safety standards, and our large and diverse development programme.

The regulator was also assured that our governance arrangements enable us to adequately control the organisation and continue meeting our objectives.

Chief executive Kate Davies said: "Given the huge challenges faced by our sector in terms of both dealing with the pandemic and the response to building safety issues nationally, we are proud to have maintained our rating - and committed to improving on it in future.

"Our regulator being satisfied with our performance is only part of the story though. We are well aware that our residents aren't as happy with our performance as we want them to be, so the full focus of our organisation is on changing that in the months and years to come.

When we formed Notting Hill Genesis, our aim was to be the best housing association in London and that aim has not changed. We can't reach that goal without our residents being happy with us."

The regulatory judgement can be found here: Notting Hill Genesis - GOV.UK (www.gov.uk)

Enquiries

Investor enquires in relation to this update should be directed to:

 
 Abayomi Okunola                  Wasiu Fadahunsi 
 Chief Financial Officer          Corporate Finance Director 
 Email: Yomi.Okunola@nhg.org.uk   Email: Wasiu.Fadahunsi@nhg.org.uk 
    Telephone: 020 3815 0031      Telephone: 020 3815 0356

Media enquires in relation to this update should be directed to:

 
 Wayne Tuckfield 
 News and Media Manager 
 Email: Wayne.Tuckfield@nhg.org.uk 
 Telephone: 020 3815 0184

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September 01, 2022 02:02 ET (06:02 GMT)

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