Peabody has been assigned an Aa2 issuer credit rating by the global rating agency, Moody's.
Susan Hickey, Peabody Executive Director of Finance, said:
"Moody's high rating shows that Peabody is in an excellent position to contribute to a great future for London's communities. It's an indication not only of confidence in our current financial strength, but also our ability to pursue a strategy of growth.”
She added:
“We see the rating as validation of the value of Peabody’s purchase of The Crown Estate’s London housing estates.”
On 11 January, The Crown Estate Board announced that it had approved the sale of four housing estates to Peabody, following a period of consultation with residents and other stakeholders. The sale is expected to be completed before spring.
Moody's rating comes at the end of an exciting month for Peabody.
In addition to the Crown Estate news, Peabody revealed that it is to invest £23m in a programme to bring solar energy to suitable Peabody homes across London.
The solar roll-out follows the successful conclusion of Peabody's Decent Homes programme in 2010. Peabody plans to spend more than £165m over the next 10 years ensuring its homes are fit for the future.
Also in the news:
Stock condition survey begins later this monthPeabody Volunteer Co-ordinator earns young leader nomination
