Thrive Homes retains G1 rating from the Regulator of Social Housing

On 26 April 2023, the Regulator of Social Housing confirmed that Thrive Homes has retained a G1/V2 grading following the completion of an In-Depth Assessment (IDA).

Based on evidence gathered from the IDA, the Regulator is assured that Thrive Homes Limited complies with financial viability and governance elements of the Governance and Financial Viability Standard.

This key rating for the social housing sector shows the support and confidence the Regulator has in Thrive’s business strategy and performance.

Elspeth Mackenzie, Chief Executive said, “This is a really positive result for Thrive. A good IDA outcome reflects the hard work throughout the business to ensure we are delivering good services and meeting the standards set by the Regulator of Social Housing. It recognises that our organisation is stable, well-run, and capable of achieving our strategic aims of growth and whilst continuing to invest in our existing operations.

“This judgement also reflects the challenges of the external environment we are currently operating within, coupled with Thrive’s strategic ambitions. As part of the ongoing business planning process Thrive’s Executive Team continues to work closely with the Board to develop, and where necessary, adapt its plans whilst monitoring changes to the external environment.”

This news comes shortly after Thrive received an upgraded A+ (stable outlook) credit rating from S&P Global in March 2023.

For more information about Thrive’s business and ambitions for growth visit www.thrivehomes.org.uk/about-us

The full regulatory judgement is available to view here.