The Regulator of Social Housing has reconfirmed Torus’s Governance and Viability rating of G1/V1 after conducting its annual stability check, meaning that Torus continues to fully meet the regulator’s governance requirements and has the financial ability to deal with any adverse business events.

The rating reaffirms the previous G1/V1 rating awarded in 2020 following the completion of an in-depth assessment.

What is a Stability Check?

The Stability Check is carried out every year on all private registered housing providers that own 1,000 or more properties.

Essentially it is a financial health check where the regulator assesses a housing provider’s most recent business plan and annual accounts to ensure that it is in a good position to deliver its plan.

An effective organisation

The Stability Check also allows the regulator to assess Torus’s ability to meet the requirements of the Value for Money Standard, which includes demonstrating a detailed approach to achieving value for money across the whole business.

Torus Group Chief Executive, Steve Coffey, commented on the result:

“We are proud to have retained our G1/V1 status and continue to be considered by the Regulator to be a well governed and financially viable organisation, especially during these challenging times.

“Torus is committed to high standards of governance and ensuring that it remains financially viable so that we have a firm platform to concentrate on our mission – Growing Stronger Communities.”

The results will be published on the Regulator of Social Housing website on Wednesday 1 December 2021.

Find out more at: www.gov.uk/government/publications/regulatory-judgement-torus62-limited