News

After six months of detailed discussions, Flagship, bpha and Futures have ended their talks to try and form a new 60,000 home association.

Since announcing talks in April, the economic environment has changed in an unprecedented manner, undermining the potential to achieve the goals the partners had set themselves.

Reflecting on this decision, the Chairs of the respective organisations said: “As three individually strong* organisations, we set ourselves some ambitious goals for a potential new organisation. Given the change in economic circumstances over the last six months, achieving these aims is no longer feasible and therefore we have agreed to end the talks.

Each of the organisations is well placed to continue to serve their customers effectively and now look forward to supporting each other in the normal course of business.”

* All three organisations have strong credit ratings:

Flagship is rated G1, V1 and has an A2 credit rating from Moody’s

bpha is rated as a G1, V1 organisation by the RSH and has an A+ (stable) credit rating from S&P

Futures is rated G1, V1 and has an A+ (stable) credit rating from S&P

 

For any questions, please contact commsteam@flagship-group.co.uk.