Investors
In order for Notting Hill Housing to grow and to build new homes to meet the housing need we need long term capital investment.
Who they are
The Group's investors are a combination of the government (in the form of grant), banks (loan funding) and fixed income investors (purchasing bonds issued by the Group).
As at 31 March 2011, Notting Hill Housing Group had private sector debt of £832m and undrawn facilities of £277m.
Our financial statements
Full information on our financial position is published each year in our group financial statements.
Our investment grade rating
Latest
On 13 February 2012, Moody's changed its outlook on the UK sovereign rating from Aaa "stable" to Aaa "negative". On 15 February 2012, Moody's amended the outlook on Notting Hill's Aa3 rating from "stable" to "negative". On 16 February 2012 Moody's issued a revised credit opinion on Notting Hill Housing Group.
Download Moody's Credit Opinion on Notting Hill Housing Group (70KB, pdf)
Previous
In June 2010 Moody's Investors Service assigned a Aa3 rating to Notting Hill Housing Group. This is reviewed regularly and the assessment reaffirming this was published on 19 July 2011.
Download Moody's report on the Notting Hill Housing Group (702KB, pdf)
The release of the rating was followed shortly by the Groups' debut bond issue, also rated Aa3, on 7 July 2010. Notting Hill Housing Trust (NHHT) issued £180m at 5.25% maturing in 2042 achieving an all-in yield of 5.259%. A further issue was completed on 2 August 2011, leading to a total amount of £300m in issue on this bond.
Notting Hill Housing Trust is the Notting Hill Housing Group's parent company and is a registered provider of social housing.
NHHT is required to submit an annual return to the bond trustee.
The Group's total bond issuance is now £325 million and firmly establishes the fixed income investor base as a key strategic source of our long term funding.
More information
For more information on becoming an investor contact the Group's Treasury Manager on 020 8357 4486 or dransome@nhhg.org.uk or the Group's Finance Director on 020 8357 5056 or pphillips@nhhg.org.uk.
