Investor relations

Metropolitan Thames Valley has been rated by Standard and Poor’s since 2015 when Metropolitan Funding Plc issued its debut £250m 4.125% 2048 bond.

Standard and Poor’s Current Rating: A- (Stable) Affirmed December 2021 (PDF)

MTVH approached Fitch Ratings for a second rating in Spring 2021, in order to broaden potential investor coverage of the credit, and to support the 4.125% 2048 issue.

The NAIC (National Association of Insurance Commissioners – US Private Placements) through its Securities Valuation Office awards ratings based on its own credit scale, which are used by US bases insurers as part of their portfolio monitoring to assess solvency and capital requirements.

Metropolitan Housing Trust as the issuer of US Private Placements under Note Purchase Agreements is currently rated NAIC-1.

The Regulator of Social Housing monitors the Governance and Financial Viability of all Registered Providers of Social Housing with more than 1000 homes, by way of regular meetings with senior management, the information provided by way of the mandatory returns (including the Financial Forecast Return ‘FFR’, the Statistical and Data Return ‘SDR’, the Quarterly Survey ‘QS’) and on a rolling 18/24-month basis the In-Depth Assessment (IDA).

In early January 2020 the Regulator completed the most recent IDA and graded MTVH as G1/V2, and this grading was re-affirmed early in 2021.