MSV has received a regrading by the sector’s regulator of G1/V2, which was published earlier today.
The Financial Viability V2 rating is based on how well we are meeting the regulator’s standards, and demonstrates that MSV remains compliant. We have also retained a G1 grade which indicates MSV’s strong and robust governance.
We will continue to invest even more in our homes, ensuring they are high quality, and warm and safe for customers; and will continue to partner with Homes England to develop new homes for people who need them. We will do this, albeit in a significantly more challenging environment, with factors such as the cost of living and energy crisis, the war in Europe and resulting rising inflation.
Charlie Norman, CEO of MSV said: “Despite the regrade MSV remains financially strong. We fully understand that the operating and macroeconomic environment is very challenging for the whole sector. At MSV, we are proud to say that we are investing more than ever in our existing homes and services, including retrofitting our homes to make them more energy efficient which alongside increasing costs has put more pressure on our business plan. But we are committed to doing the decent thing for our customers and this means investing in existing homes and services and desperately needed new homes.“
