Chime Housing (Watford Community Housing Trust) has welcomed the latest update from S&P Global Ratings, which confirms that our newly merged organisation retains the strong A (negative outlook) long‑term issuer credit rating previously held by Thrive Homes Limited.

With the merger between Thrive Homes and Watford Community Housing now complete, S&P has stated that they ‘view the new group, Chime Housing as slightly stronger than the former Thrive stand alone in terms of EBITDA margin, leverage and financial capacity’. The merger has increased overall resilience, strengthened our balance sheet and enhanced our capacity to invest in homes and services.

S&P notes that the creation of Chime Housing brings together two well‑established providers with complementary strengths, enabling greater operating efficiencies, improved liquidity and a more robust financial position. The rating also reflects our continued commitment to strong risk management and long‑term financial planning.

Greg Whelan, Chief Finance Officer of Chime Housing, said: “Retaining our A rating is an important milestone for Chime Housing. It demonstrates that the merger has already delivered greater financial strength and stability, ensuring we can continue to invest in safe, high‑quality homes and deliver excellent services for our residents.”

The full S&P Global Ratings update is available on their website here