Published - 31 July 2019
Regulator issues first full rating for Notting Hill Genesis
Notting Hill Genesis has been awarded a G1/V2 rating by the Regulator for Social Housing, maintaining the interim judgement we were given in 2018.
Following an in-depth assessment carried out in April we have been rated G1 for governance and V2 for viability, meaning we are compliant in both areas.
This is the first full rating we have received since Notting Hill Genesis was formed last year and shows we have financial plans that support our financial strategy and that regulators are confident in how we manage and govern our business.
They recognise we have an adequately funded business plan, sufficient security and continue to meet our financial covenants.
Kate Davies, chief executive, said: “Given the difficult circumstances of integrating two large organisations alongside a challenging economic and political environment, we are very proud of this result.
We still have things to work on, of course, and we will take the feedback from the regulators on board completely. While we are rightly pleased to have maintained this rating, we are determined to improve on this in future.
“Notting Hill Genesis remains a strong, robust organisation with the financial clout, influence, skills and resources to build more of the homes so desperately needed across London and the south east. We are glad the regulator recognises we have the financial and governance resources to meet our aspirations.”
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