G1/V1 rating for Magenta Living
Magenta Living is delighted to announce that the Regulator of Social Housing has confirmed a top regulatory judgement of G1/V1.
This highest possible rating is for Magenta’s approach to Governance and its Financial Viability.
Chair of Magenta’s Board, Ged Lucas, stated: “It is great news that the Regulator has recognised the Board’s improved approach to scrutiny and challenge of performance as well as strengthening our oversight of compliance. We are thrilled that the hard work of the Board and colleagues has resulted in this judgement.”
Interim Chief Executive, Keith Wrate, said: “We are really pleased the Regulator is assured that we have improved the quality of reporting, stress testing and mitigation planning. When combined with our recent refinancing to help build 1,000 new homes and tackle our climate change ambitions, this judgement will put my successor in an excellent position to take Magenta forward towards an exciting and successful future once they are appointed.”
The Regulator’s full judgement is available here.