Metropolitan Funding PLC RSH Regulatory Judegement Update (0248K)

TIDM38EO

RNS Number : 0248K

Metropolitan Funding PLC

17 April 2020

Metropolitan Funding PLC

Thames Valley Housing Association (TVHA) Regulatory Judgement update from the Regulator of Social Housing, following an In-Depth Assessment in early 2020

The Regulator of Social Housing (RSH) has today reaffirmed Metropolitan Thames Valley's (MTVH's) existing 'G1' rating for governance and 'V2' rating for financial viability.

The regulatory judgement follows an in-depth assessment of MTVH which took place in January and February of this year.

In the judgement, the Regulator confirmed its assurance that:

- MTVH's governance arrangements enable it to control the business and continue meeting its objectives

- The organisation's financial plans support its strategy, it has an adequately funded business plan and is able to meet future financial commitments

- It has the financial capacity to deal with a range of negative scenarios

MTVH Chair Althea Efunshile CBE said: "We're pleased that the Regulator has confirmed our compliant ratings, recognising our robust governance arrangements and stable financial position.

"We're a developer of affordable homes and, alongside our peers in the sector, cross-subsidise these properties with units for market sale. While we continually evaluate market risk and our capacity for new development, we remain committed to our ambitious development plans. We also maintain our commitment to investing in our existing properties and ensuring that our homes are safer and more comfortable for our residents.

"With uncertainty around the Covid-19 pandemic and its longer term economic impact, we continue to work to support our residents - and stand ready, as a stable and well-run organisation, to play our part with the rest of the sector in tackling the national challenges which lie ahead."

Enquiries

Please contact Donald McKenzie, Director of Corporate Finance, on 0203-535-4434 or at donald.mckenzie@mtvh.co.uk

This information for investors is also available on our website:

https://www.mtvh.co.uk/about-us/investors/

The information in this announcement has been prepared by the Thames Valley Housing Association group and is for information purposes only. The should not be construed as an offer or solicitation to buy or sell any securities, or any interest in any such securities, and nothing herein should be construed as a recommendation or advice to invest in any such securities.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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