INVESTMENT GRADE CREDIT RATING AFFIRMED
25 August 2022
Triple Point Social Housing REIT plc
(the "Company" or, together with its subsidiaries, the "Group")
INVESTMENT GRADE CREDIT RATING AFFIRMED
The Board of Directors of Triple Point Social Housing REIT plc (ticker: SOHO) is pleased to announce that Fitch Ratings Limited (" Fitch ") has affirmed the Company's existing Investment Grade, long-term Issuer Default Rating (IDR) of 'A-' with a stable outlook and a senior secured rating of 'A' for the Group's existing loan notes.
The Fitch Rating Action Commentary can be read in full here https://www.fitchratings.com/research/corporate-finance/fitch-affirms-triple-point-social-housing-reit-idr-at-a-senior-secured-at-a-24-08-2022
Chris Phillips, Chairman of Triple Point Social Housing REIT plc, commented:
"We are delighted that the Company's investment grade rating has been affirmed by Fitch. This is a reflection of not only the Company's continued financial resilience, but also the resilience of the sector in spite of the broader economic and market conditions."
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
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Triple Point Investment Management LLP (Investment Manager) |
Tel: 020 7201 8989 |
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Max Shenkman |
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Isobel Gunn-Brown |
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Akur Capital (Joint Financial Adviser) |
Tel: 020 7493 3631 |
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Tom Frost |
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Anthony Richardson |
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Siobhan Sergeant |
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Stifel (Joint Financial Adviser and Corporate Broker) |
Tel: 020 7710 7600 |
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Mark Young |
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Mark Bloomfield |
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Rajpal Padam |
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The Company's LEI is 213800BERVBS2HFTBC58.
Further information on the Company can be found on its website at www.triplepointreit.com .
NOTES:
The Company invests in primarily newly developed social housing assets in the UK, with a particular focus on supported housing. The majority of the assets within the portfolio are subject to inflation-linked, long-term, Fully Repairing and Insuring ("FRI") leases with Approved Providers (being Housing Associations, Local Authorities or other regulated organisations in receipt of direct payment from local government). The portfolio comprises investments into properties which are already subject to a lease with an Approved Provider, as well as forward funding of pre-let developments but does not include any direct development or speculative development.
There is increasing political pressure and social need to increase housing supply across the UK which is creating opportunities for private sector investors to help deliver this housing. The Group's ability to provide forward funding for new developments not only enables the Company to secure fit for purpose, modern assets for its portfolio but also addresses the chronic undersupply of suitable supported housing properties in the UK at sustainable rents as well as delivering returns to investors.
The Company is a UK Real Estate Investment Trust ("REIT") listed on the premium segment of the Official List of the UK Financial Conduct Authority and is a constituent of the FTSE EPRA/NAREIT index.
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