Plymouth Community Homes, the largest social housing landlord in Plymouth, has seen its credit rating adjusted to ‘A’ with a continuing outlook of ‘stable’ in recognition of the organisation’s ambitious plans for major investment in both developing new social housing and upgrading its existing homes.
PCH previously received a renewed A+ credit rating from S&P Global in January 2026 with the outlook adjusted from ‘positive’ to ‘stable’ following a rigorous evaluation and assessment of PCH’s financial performance and future plans, as well as a review of the organisation’s operational track record and governance.
S&P today (1st September) confirmed PCH’s credit rating has now been adjusted to A with an ongoing ‘stable’ outlook as a result of the organisation’s published plans to increase its development pipeline and deliver more much-needed affordable housing for the region, alongside increasing spend on upgrading its existing homes to meet energy efficiency requirements. This, coupled with the increased investment focus for 2026-2028, impacts on the business debt profile.
Nick Jackson, Executive Director of Business Services at PCH, said:
"The adjustment from A+ to A reflects the deliberate choices we are making as an organisation and does not come as a surprise.
We are proud to be increasing investment in both new and existing homes because we want to do more for our residents and communities. That includes delivering around 300 new affordable homes a year, progressing major regeneration projects and investing in making existing homes more energy efficient.
Alongside Homes England selecting us as a Strategic Partner, this reflects our ambition to grow responsibly while continuing to invest in the homes and services our residents rely on every day.
As well as the A rating, S&P has maintained a stable outlook, reflecting confidence in PCH's long-term resilience and our ability to deliver these plans successfully."
Plymouth Community Homes was recently selected by Homes England as a Strategic Partner for the Social and Affordable Homes Programme 2026-2036, securing £250m to support delivery of 1,500 affordable homes over the next decade.
Homes England's decision to select PCH as one of just 33 Strategic Partners chosen nationally reflects strong confidence in the organisation’s ability to deliver high-quality homes at scale and to manage complex and challenging inner city regeneration projects.
PCH also has existing funding in place with supportive funding partners, and the organisation is closely aligned with local authorities and key stakeholders working in partnership through Team Plymouth to support defence-driven economic growth with the city of Plymouth identified as a priority area for defence spending.
