The Homes and Communities Agency (HCA) has announced a downgrade of Orbit’s governance to a G2 rating – compliant but improvement needed. This follows a decision by Orbit to self-report a Health & Safety issue to the HCA in July 2015.
Although we are obviously disappointed to be in this position, we fully accept the conclusions of the HCA. The HCA decision relates to the specific area of Fire Risk remedial works and the HCA has judged that the Action Plan that we put into place to address those issues was appropriate and robust. We take the safety and security of our customers very seriously and we will complete the outstanding works as quickly as possible.
The HCA has confirmed our financial viability remains at the highest V1 rating and therefore the delivery of our development programme and Business Plan are not affected.