In January 2021, following a stability check, the RSH awarded Hexagon a G1 rating for Governance and a V2 rating for Financial Viability. This followed on from a stability check carried out in November 2020. The re-grading from V1 to V2 remains V2 a compliant governance grading but indicates that Hexagon needs to manage material risks to ensure continued compliance and this relates to emerging risks relating to fire safety expenditure, sales risks, major repairs spend, and continued compliance with gearing covenants with lenders. The Board has an active and ongoing risk management framework in place to ensure all risks are assessed and that remedial action is taken to manage them. Further information can be obtained from the Regulator’s website: https://www.gov.uk/government/publications/regulatory-judgement-hexagon-housing-association-limited.