By David Parsley2019-10-02T06:53:00
Fitch Ratings has downgraded WeWork’s credit rating after a tumultuous few weeks for the flexible office group, as predicted by Property Week last month.
The ratings agency cut the group’s credit rating by two levels to CCC+ from B, putting the Softbank-backed office-sharing firm deep into junk territory a day after it abandoned its stock market listing in New York, and a week after it demoted its founder Adam Neumann. WeWork’s rating outlook is also negative, Fitch added.
You must be logged in to continue
Register for free to finish this article.
Sign up now for the following benefits:
To access this article REGISTER NOW
Would you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.