Trust for Urban Housing Finance (Proprietary) Limited (TUHF)

Image placeholder
TUHF Limited (2021-09)
  • Trust for Urban Housing Finance (Proprietary) Limited (TUHF)
  • Year : Sep 2021
3 Tokens
USD 300.00
Summary

TUHF predominantly focusses on providing finance to property entrepreneurs for the purchase, and/or conversion/refurbishment of buildings in the inner cities of South Africa and as such, has a niche market focus, characterised by geographic, segment and obligor concentrations. However, the relatively small size and mono-line operations are mitigated by TUHF’s long standing track record operating in inner city property development and strong Environmental, Social and Governance (“ESG”) credentials that were highlighted through the recently concluded securitisation, which was one of the first social bonds listed on the Johannesburg Stock Exchange and classified under the Sustainability segment.

Additional Information

The Stable outlook balances the improved funding and liquidity position, adequate capital and leverage viewed to be sustainable at current levels with room to absorb potential earnings volatility, against uncertainty in the operating environment that could cause asset quality deterioration. Downward rating movement could arise from any signs of liquidity pressure, weaker than expected earnings that erodes existing capital buffers and further asset quality deterioration.

Related Publication

GEI4_C4_T4 (2016-12)

A Credit Rating report is a research report providing detailed analysis utilised by GCR in the accordance of a Credit Rating.

GCR Risk Score Snapshot as of 10th Feb 2021

The GCR Ratings Framework is anchored upon the GCR Risk Score. This numerical scoring system, which forms a single analytical approach across multi...

Credit Spotlight: Civil Unrest and Ratings in South Africa

GCR Ratings has taken note of the recent geopolitical events from 7 July 2021 which sparked violent looting and riots in Kwa-Zulu Natal and Gauteng...

Available Purchase Options: