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

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

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.

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