WeWork’s credit rating, already rated as junk, has been downgraded on concerns that the pandemic could seriously weaken demand for office space. Ratings agency Fitch dropped WeWork’s long-term issuer default rating Thursday one notch from CCC+ to CCC. Both scales are non-investment grades, otherwise known as junk or high-yield status, representing a real possibility that the company will default on its credit obligations. “The downgrade reflects Fitch’s concern over the viability of WeWork’s business model
source https://therealdeal.com/2020/10/23/wework-bonds-now-close-to-default-fitch/
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