Following a planned inspection by the Regulator of Social Housing earlier this year, we have retained our V1 for financial viability, our G1 grade for governance and have been awarded our first consumer grade of C2.
Gary Orr, Group Chief Executive of Abri, said:
“Our latest regulatory judgement demonstrates our continued financial resilience, strong governance and compliance. Our first consumer rating reflects Abri’s customer-first approach to services and our commitment to providing safe, high-quality homes that meet our customers diverse needs.
"Following our rescue of historic Octavia in 2024, Abri has significantly improved services for London residents. We were pleased that the assessment recognised this work and removed Octavia’s legacy C3 judgement, but we understand it was too early to award the Group the highest rating.
We’ll continue to work with the regulator over the coming months to track ongoing improvements in London so that it aligns with the Group’s wider performance and service delivery.”
Effective governance
Our retained G1 rating reflects our continued demonstration of effective governance and oversight of risks, performance and delivery against our strategic objectives. The regulator recognised our comprehensive approach to how we understand and manage risks, particularly those inherited through historic Octavia, while continuing to maintain high-quality services for our existing customers.
Strong financial resilience
Our reaffirmed V1 rating recognises our strong financial position, diverse funding and resilience towards a range of risks. The judgement reflects our ability to continue investing in our existing homes and services, deliver an ambitious programme of 20,000 new homes by 2036, and maintain long-term financial strength.
Customer-first services
Our first consumer grading, C2, reflects the significant progress we’ve made towards improving outcomes for customers and addressing the challenges inherited from historic Octavia in 2024, evidenced in the removal of Octavia’s previous C3 rating.
The regulator recognised Abri’s customer-first approach to service delivery including an up to date understanding of our homes, commitment to safety, effective repairs and maintenance service and our ability to respond to our customers’ needs fairly. While we continue to work on the recovery of some areas of performance in London, we were able to evidence ongoing improvement.