Grand Union Housing Group (GUHG) has retained its A2 (affirmed) rating following a review by a major credit rating agency.

Moody’s provides ratings to a number of housing associations and its opinions are key in allowing them to secure additional finance from lenders.

Following the result of the UK’s referendum to leave the EU, Moody’s changed the UK Sovereign outlook from stable to negative. This had a knock-on effect on the entire housing sector, meaning GUHG’s outlook, along with many other housing associations, was reduced from stable to negative.

Anna Simpson, Group Director of Finance, said: “We are pleased to see that the Group has maintained its A2 rating in what has been a challenging twelve months for the sector.

“GUHG remains in a strong financial position and this A2 rating confirms how operationally effective and financially sound we are.”